Correlation Between Walker Dunlop and BNP Paribas
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By analyzing existing cross correlation between Walker Dunlop and BNP Paribas Easy, you can compare the effects of market volatilities on Walker Dunlop and BNP Paribas 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 BNP Paribas. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and BNP Paribas.
Diversification Opportunities for Walker Dunlop and BNP Paribas
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Walker and BNP is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and BNP Paribas Easy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BNP Paribas Easy 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 BNP Paribas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BNP Paribas Easy has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and BNP Paribas go up and down completely randomly.
Pair Corralation between Walker Dunlop and BNP Paribas
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 12.79 times more return on investment than BNP Paribas. However, Walker Dunlop is 12.79 times more volatile than BNP Paribas Easy. It trades about 0.05 of its potential returns per unit of risk. BNP Paribas Easy is currently generating about 0.06 per unit of risk. If you would invest 7,348 in Walker Dunlop on September 12, 2024 and sell it today you would earn a total of 3,294 from holding Walker Dunlop or generate 44.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 91.11% |
| Values | Daily Returns |
Walker Dunlop vs. BNP Paribas Easy
Performance |
| Timeline |
| Walker Dunlop |
| BNP Paribas Easy |
Walker Dunlop and BNP Paribas Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and BNP Paribas
The main advantage of trading using opposite Walker Dunlop and BNP Paribas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, BNP Paribas 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 BNP Paribas will offset losses from the drop in BNP Paribas' 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 |
| BNP Paribas vs. UBS Fund Solutions | BNP Paribas vs. Xtrackers II | BNP Paribas vs. Xtrackers Nikkei 225 | BNP Paribas vs. iShares VII PLC |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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