Correlation Between Walker Dunlop and SenSen Networks
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and SenSen Networks 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 SenSen Networks into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and SenSen Networks Limited, you can compare the effects of market volatilities on Walker Dunlop and SenSen Networks 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 SenSen Networks. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and SenSen Networks.
Diversification Opportunities for Walker Dunlop and SenSen Networks
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Walker and SenSen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and SenSen Networks Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SenSen Networks 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 SenSen Networks. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SenSen Networks has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and SenSen Networks go up and down completely randomly.
Pair Corralation between Walker Dunlop and SenSen Networks
If you would invest 10,870 in Walker Dunlop on September 1, 2024 and sell it today you would earn a total of 148.00 from holding Walker Dunlop or generate 1.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Walker Dunlop vs. SenSen Networks Limited
Performance |
| Timeline |
| Walker Dunlop |
| SenSen Networks |
Walker Dunlop and SenSen Networks Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and SenSen Networks
The main advantage of trading using opposite Walker Dunlop and SenSen Networks positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, SenSen Networks 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 SenSen Networks will offset losses from the drop in SenSen Networks' 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 |
| SenSen Networks vs. CSG Systems International | SenSen Networks vs. Global Blue Group | SenSen Networks vs. International Money Express | SenSen Networks vs. Consensus Cloud Solutions |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |