Correlation Between Walker Dunlop and Exploitasi Energi
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and Exploitasi Energi 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 Exploitasi Energi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and Exploitasi Energi Indonesia, you can compare the effects of market volatilities on Walker Dunlop and Exploitasi Energi 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 Exploitasi Energi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Exploitasi Energi.
Diversification Opportunities for Walker Dunlop and Exploitasi Energi
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Walker and Exploitasi is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Exploitasi Energi Indonesia in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Exploitasi Energi 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 Exploitasi Energi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Exploitasi Energi has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Exploitasi Energi go up and down completely randomly.
Pair Corralation between Walker Dunlop and Exploitasi Energi
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.21 times more return on investment than Exploitasi Energi. However, Walker Dunlop is 4.8 times less risky than Exploitasi Energi. It trades about 0.07 of its potential returns per unit of risk. Exploitasi Energi Indonesia is currently generating about -0.04 per unit of risk. If you would invest 8,228 in Walker Dunlop on August 25, 2024 and sell it today you would earn a total of 2,621 from holding Walker Dunlop or generate 31.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 94.4% |
| Values | Daily Returns |
Walker Dunlop vs. Exploitasi Energi Indonesia
Performance |
| Timeline |
| Walker Dunlop |
| Exploitasi Energi |
Walker Dunlop and Exploitasi Energi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Exploitasi Energi
The main advantage of trading using opposite Walker Dunlop and Exploitasi Energi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Exploitasi Energi 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 Exploitasi Energi will offset losses from the drop in Exploitasi Energi's 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 |
| Exploitasi Energi vs. Petrosea Tbk | Exploitasi Energi vs. Harum Energy Tbk | Exploitasi Energi vs. Perdana Karya Perkasa | Exploitasi Energi vs. Samindo Resources Tbk |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Other Complementary Tools
| CEOs Directory Screen CEOs from public companies around the world | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stocks Directory Find actively traded stocks across global markets |