Correlation Between Walker Dunlop and IMAC Holdings
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and IMAC Holdings at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Walker Dunlop and IMAC Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and IMAC Holdings, you can compare the effects of market volatilities on Walker Dunlop and IMAC Holdings and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Walker Dunlop with a short position of IMAC Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and IMAC Holdings.
Diversification Opportunities for Walker Dunlop and IMAC Holdings
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Walker and IMAC is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and IMAC Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IMAC Holdings and Walker Dunlop is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Walker Dunlop are associated (or correlated) with IMAC Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IMAC Holdings has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and IMAC Holdings go up and down completely randomly.
Pair Corralation between Walker Dunlop and IMAC Holdings
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.12 times more return on investment than IMAC Holdings. However, Walker Dunlop is 8.59 times less risky than IMAC Holdings. It trades about 0.1 of its potential returns per unit of risk. IMAC Holdings is currently generating about -0.09 per unit of risk. If you would invest 9,224 in Walker Dunlop on November 9, 2024 and sell it today you would earn a total of 349.00 from holding Walker Dunlop or generate 3.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. IMAC Holdings
Performance |
| Timeline |
| Walker Dunlop |
| IMAC Holdings |
Walker Dunlop and IMAC Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and IMAC Holdings
The main advantage of trading using opposite Walker Dunlop and IMAC Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, IMAC Holdings can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in IMAC Holdings will offset losses from the drop in IMAC Holdings' long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| IMAC Holdings vs. Oncology Institute | IMAC Holdings vs. Aveanna Healthcare Holdings | IMAC Holdings vs. P3 Health Partners | IMAC Holdings vs. HCA Holdings |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Other Complementary Tools
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |