Correlation Between Walker Dunlop and CFG BANK
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By analyzing existing cross correlation between Walker Dunlop and CFG BANK, you can compare the effects of market volatilities on Walker Dunlop and CFG BANK 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 CFG BANK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and CFG BANK.
Diversification Opportunities for Walker Dunlop and CFG BANK
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Walker and CFG is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and CFG BANK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CFG BANK 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 CFG BANK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CFG BANK has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and CFG BANK go up and down completely randomly.
Pair Corralation between Walker Dunlop and CFG BANK
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the CFG BANK. But the stock apears to be less risky and, when comparing its historical volatility, Walker Dunlop is 1.11 times less risky than CFG BANK. The stock trades about 0.0 of its potential returns per unit of risk. The CFG BANK is currently generating about 0.36 of returns per unit of risk over similar time horizon. If you would invest 18,400 in CFG BANK on August 30, 2024 and sell it today you would earn a total of 2,500 from holding CFG BANK or generate 13.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 91.3% |
| Values | Daily Returns |
Walker Dunlop vs. CFG BANK
Performance |
| Timeline |
| Walker Dunlop |
| CFG BANK |
Walker Dunlop and CFG BANK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and CFG BANK
The main advantage of trading using opposite Walker Dunlop and CFG BANK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, CFG BANK 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 CFG BANK will offset losses from the drop in CFG BANK's long position.| Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group | Walker Dunlop vs. PennyMac Finl Svcs |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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