Correlation Between Walker Dunlop and Fillamentum
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and Fillamentum 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 Fillamentum into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and Fillamentum as, you can compare the effects of market volatilities on Walker Dunlop and Fillamentum 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 Fillamentum. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Fillamentum.
Diversification Opportunities for Walker Dunlop and Fillamentum
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Walker and Fillamentum is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Fillamentum as in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fillamentum as 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 Fillamentum. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fillamentum as has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Fillamentum go up and down completely randomly.
Pair Corralation between Walker Dunlop and Fillamentum
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 12.27 times less return on investment than Fillamentum. But when comparing it to its historical volatility, Walker Dunlop is 3.45 times less risky than Fillamentum. It trades about 0.01 of its potential returns per unit of risk. Fillamentum as is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 19,900 in Fillamentum as on November 27, 2024 and sell it today you would lose (4,100) from holding Fillamentum as or give up 20.6% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Walker Dunlop vs. Fillamentum as
Performance |
| Timeline |
| Walker Dunlop |
| Fillamentum as |
Walker Dunlop and Fillamentum Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Fillamentum
The main advantage of trading using opposite Walker Dunlop and Fillamentum positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Fillamentum 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 Fillamentum will offset losses from the drop in Fillamentum'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 |
| Fillamentum vs. Moneta Money Bank | Fillamentum vs. UNIQA Insurance Group | Fillamentum vs. JT ARCH INVESTMENTS | Fillamentum vs. Komercni Banka AS |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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