Correlation Between Willscot Mobile and STANLN
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By analyzing existing cross correlation between Willscot Mobile Mini and STANLN 32 17 APR 25, you can compare the effects of market volatilities on Willscot Mobile and STANLN 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 Willscot Mobile with a short position of STANLN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Willscot Mobile and STANLN.
Diversification Opportunities for Willscot Mobile and STANLN
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Willscot and STANLN is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Willscot Mobile Mini and STANLN 32 17 APR 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STANLN 32 17 and Willscot Mobile 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 Willscot Mobile Mini are associated (or correlated) with STANLN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STANLN 32 17 has no effect on the direction of Willscot Mobile i.e., Willscot Mobile and STANLN go up and down completely randomly.
Pair Corralation between Willscot Mobile and STANLN
Considering the 90-day investment horizon Willscot Mobile Mini is expected to under-perform the STANLN. In addition to that, Willscot Mobile is 8.12 times more volatile than STANLN 32 17 APR 25. It trades about -0.01 of its total potential returns per unit of risk. STANLN 32 17 APR 25 is currently generating about 0.14 per unit of volatility. If you would invest 9,626 in STANLN 32 17 APR 25 on October 23, 2024 and sell it today you would earn a total of 328.00 from holding STANLN 32 17 APR 25 or generate 3.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 17.0% |
| Values | Daily Returns |
Willscot Mobile Mini vs. STANLN 32 17 APR 25
Performance |
| Timeline |
| Willscot Mobile Mini |
| STANLN 32 17 |
Willscot Mobile and STANLN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Willscot Mobile and STANLN
The main advantage of trading using opposite Willscot Mobile and STANLN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Willscot Mobile position performs unexpectedly, STANLN 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 STANLN will offset losses from the drop in STANLN's long position.| Willscot Mobile vs. HE Equipment Services | Willscot Mobile vs. GATX Corporation | Willscot Mobile vs. McGrath RentCorp | Willscot Mobile vs. Alta Equipment 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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