Correlation Between Walker Dunlop and Global X
Specify exactly 2 symbols:
By analyzing existing cross correlation between Walker Dunlop and Global X SP, you can compare the effects of market volatilities on Walker Dunlop and Global X 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 Global X. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Global X.
Diversification Opportunities for Walker Dunlop and Global X
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Walker and Global is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Global X SP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global X SP 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 Global X. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global X SP has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Global X go up and down completely randomly.
Pair Corralation between Walker Dunlop and Global X
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 1.94 times less return on investment than Global X. In addition to that, Walker Dunlop is 2.03 times more volatile than Global X SP. It trades about 0.11 of its total potential returns per unit of risk. Global X SP is currently generating about 0.43 per unit of volatility. If you would invest 1,761 in Global X SP on September 4, 2024 and sell it today you would earn a total of 126.00 from holding Global X SP or generate 7.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Walker Dunlop vs. Global X SP
Performance |
| Timeline |
| Walker Dunlop |
| Global X SP |
Walker Dunlop and Global X Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Global X
The main advantage of trading using opposite Walker Dunlop and Global X positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Global X 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 Global X will offset losses from the drop in Global X'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 |
| Global X vs. UBS Fund Solutions | Global X vs. Xtrackers II | Global X vs. Xtrackers Nikkei 225 | Global X vs. iShares VII PLC |
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.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |