Correlation Between Walker Dunlop and FNB ETN
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By analyzing existing cross correlation between Walker Dunlop and FNB ETN on, you can compare the effects of market volatilities on Walker Dunlop and FNB ETN 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 FNB ETN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and FNB ETN.
Diversification Opportunities for Walker Dunlop and FNB ETN
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Walker and FNB is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and FNB ETN on in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FNB ETN on 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 FNB ETN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FNB ETN on has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and FNB ETN go up and down completely randomly.
Pair Corralation between Walker Dunlop and FNB ETN
If you would invest 9,353 in Walker Dunlop on August 28, 2024 and sell it today you would earn a total of 1,896 from holding Walker Dunlop or generate 20.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 0.0% |
| Values | Daily Returns |
Walker Dunlop vs. FNB ETN on
Performance |
| Timeline |
| Walker Dunlop |
| FNB ETN on |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
Walker Dunlop and FNB ETN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and FNB ETN
The main advantage of trading using opposite Walker Dunlop and FNB ETN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, FNB ETN 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 FNB ETN will offset losses from the drop in FNB ETN'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 |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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