Correlation Between Walker Dunlop and 361448AU7
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By analyzing existing cross correlation between Walker Dunlop and GATX P 52, you can compare the effects of market volatilities on Walker Dunlop and 361448AU7 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 361448AU7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and 361448AU7.
Diversification Opportunities for Walker Dunlop and 361448AU7
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Walker and 361448AU7 is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and GATX P 52 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GATX P 52 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 361448AU7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GATX P 52 has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and 361448AU7 go up and down completely randomly.
Pair Corralation between Walker Dunlop and 361448AU7
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.23 times more return on investment than 361448AU7. However, Walker Dunlop is 4.3 times less risky than 361448AU7. It trades about -0.08 of its potential returns per unit of risk. GATX P 52 is currently generating about -0.47 per unit of risk. If you would invest 11,120 in Walker Dunlop on August 27, 2024 and sell it today you would lose (271.00) from holding Walker Dunlop or give up 2.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 19.05% |
| Values | Daily Returns |
Walker Dunlop vs. GATX P 52
Performance |
| Timeline |
| Walker Dunlop |
| GATX P 52 |
Walker Dunlop and 361448AU7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and 361448AU7
The main advantage of trading using opposite Walker Dunlop and 361448AU7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, 361448AU7 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 361448AU7 will offset losses from the drop in 361448AU7'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 |
| 361448AU7 vs. Arrow Electronics | 361448AU7 vs. Lipocine | 361448AU7 vs. Payoneer Global | 361448AU7 vs. Harmony Gold Mining |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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