Correlation Between Walker Dunlop and Deutsche Wohnen
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By analyzing existing cross correlation between Walker Dunlop and Deutsche Wohnen SE, you can compare the effects of market volatilities on Walker Dunlop and Deutsche Wohnen 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 Deutsche Wohnen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Deutsche Wohnen.
Diversification Opportunities for Walker Dunlop and Deutsche Wohnen
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Walker and Deutsche is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Deutsche Wohnen SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Deutsche Wohnen SE 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 Deutsche Wohnen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Deutsche Wohnen SE has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Deutsche Wohnen go up and down completely randomly.
Pair Corralation between Walker Dunlop and Deutsche Wohnen
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 6.01 times less return on investment than Deutsche Wohnen. In addition to that, Walker Dunlop is 1.32 times more volatile than Deutsche Wohnen SE. It trades about 0.02 of its total potential returns per unit of risk. Deutsche Wohnen SE is currently generating about 0.19 per unit of volatility. If you would invest 2,270 in Deutsche Wohnen SE on November 7, 2024 and sell it today you would earn a total of 165.00 from holding Deutsche Wohnen SE or generate 7.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 91.3% |
| Values | Daily Returns |
Walker Dunlop vs. Deutsche Wohnen SE
Performance |
| Timeline |
| Walker Dunlop |
| Deutsche Wohnen SE |
Walker Dunlop and Deutsche Wohnen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Deutsche Wohnen
The main advantage of trading using opposite Walker Dunlop and Deutsche Wohnen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Deutsche Wohnen 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 Deutsche Wohnen will offset losses from the drop in Deutsche Wohnen'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 |
| Deutsche Wohnen vs. Gateway Real Estate | Deutsche Wohnen vs. Gateway Real Estate | Deutsche Wohnen vs. Gateway Real Estate | Deutsche Wohnen vs. TIMES CHINA HLDGS |
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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