Correlation Between Walker Dunlop and GENERAL
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By analyzing existing cross correlation between Walker Dunlop and GENERAL ELEC CAP, you can compare the effects of market volatilities on Walker Dunlop and GENERAL 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 GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and GENERAL.
Diversification Opportunities for Walker Dunlop and GENERAL
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Walker and GENERAL is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and GENERAL ELEC CAP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL ELEC CAP 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 GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL ELEC CAP has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and GENERAL go up and down completely randomly.
Pair Corralation between Walker Dunlop and GENERAL
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 1.61 times more return on investment than GENERAL. However, Walker Dunlop is 1.61 times more volatile than GENERAL ELEC CAP. It trades about 0.04 of its potential returns per unit of risk. GENERAL ELEC CAP is currently generating about -0.68 per unit of risk. If you would invest 11,120 in Walker Dunlop on August 28, 2024 and sell it today you would earn a total of 129.00 from holding Walker Dunlop or generate 1.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 28.57% |
| Values | Daily Returns |
Walker Dunlop vs. GENERAL ELEC CAP
Performance |
| Timeline |
| Walker Dunlop |
| GENERAL ELEC CAP |
Walker Dunlop and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and GENERAL
The main advantage of trading using opposite Walker Dunlop and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL'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 |
| GENERAL vs. Pinterest | GENERAL vs. SmartStop Self Storage | GENERAL vs. Deluxe | GENERAL vs. National CineMedia |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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