Correlation Between Walker Dunlop and LUXOR-B
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By analyzing existing cross correlation between Walker Dunlop and Investeringsselskabet Luxor AS, you can compare the effects of market volatilities on Walker Dunlop and LUXOR-B 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 LUXOR-B. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and LUXOR-B.
Diversification Opportunities for Walker Dunlop and LUXOR-B
-0.87 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Walker and LUXOR-B is -0.87. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Investeringsselskabet Luxor AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Investeringsselskabet 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 LUXOR-B. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Investeringsselskabet has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and LUXOR-B go up and down completely randomly.
Pair Corralation between Walker Dunlop and LUXOR-B
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the LUXOR-B. But the stock apears to be less risky and, when comparing its historical volatility, Walker Dunlop is 1.21 times less risky than LUXOR-B. The stock trades about -0.12 of its potential returns per unit of risk. The Investeringsselskabet Luxor AS is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest 58,000 in Investeringsselskabet Luxor AS on October 26, 2024 and sell it today you would earn a total of 14,500 from holding Investeringsselskabet Luxor AS or generate 25.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Investeringsselskabet Luxor AS
Performance |
| Timeline |
| Walker Dunlop |
| Investeringsselskabet |
Walker Dunlop and LUXOR-B Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and LUXOR-B
The main advantage of trading using opposite Walker Dunlop and LUXOR-B positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, LUXOR-B 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 LUXOR-B will offset losses from the drop in LUXOR-B'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 |
| LUXOR-B vs. Skjern Bank AS | LUXOR-B vs. Groenlandsbanken AS | LUXOR-B vs. Fynske Bank AS | LUXOR-B vs. Lollands Bank |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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