Correlation Between Listed Funds and HUNTINGTON

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Can any of the company-specific risk be diversified away by investing in both Listed Funds and HUNTINGTON 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 Listed Funds and HUNTINGTON into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Listed Funds Trust and HUNTINGTON BANCSHARES INC, you can compare the effects of market volatilities on Listed Funds and HUNTINGTON 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 Listed Funds with a short position of HUNTINGTON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Listed Funds and HUNTINGTON.

Diversification Opportunities for Listed Funds and HUNTINGTON

-0.6
  Correlation Coefficient

Excellent diversification

The 3 months correlation between Listed and HUNTINGTON is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding Listed Funds Trust and HUNTINGTON BANCSHARES INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUNTINGTON BANCSHARES INC and Listed Funds 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 Listed Funds Trust are associated (or correlated) with HUNTINGTON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HUNTINGTON BANCSHARES INC has no effect on the direction of Listed Funds i.e., Listed Funds and HUNTINGTON go up and down completely randomly.

Pair Corralation between Listed Funds and HUNTINGTON

Considering the 90-day investment horizon Listed Funds Trust is expected to generate 0.08 times more return on investment than HUNTINGTON. However, Listed Funds Trust is 11.83 times less risky than HUNTINGTON. It trades about 0.28 of its potential returns per unit of risk. HUNTINGTON BANCSHARES INC is currently generating about -0.09 per unit of risk. If you would invest  2,501  in Listed Funds Trust on September 23, 2024 and sell it today you would earn a total of  15.00  from holding Listed Funds Trust or generate 0.6% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthWeak
Accuracy95.45%
ValuesDaily Returns

Listed Funds Trust  vs.  HUNTINGTON BANCSHARES INC

 Performance 
       Timeline  
Listed Funds Trust 

Risk-Adjusted Performance

18 of 100

 
Weak
 
Strong
Solid
Compared to the overall equity markets, risk-adjusted returns on investments in Listed Funds Trust are ranked lower than 18 (%) of all global equities and portfolios over the last 90 days. Despite somewhat strong basic indicators, Listed Funds is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.
HUNTINGTON BANCSHARES INC 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days HUNTINGTON BANCSHARES INC has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, HUNTINGTON is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

Listed Funds and HUNTINGTON Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Listed Funds and HUNTINGTON

The main advantage of trading using opposite Listed Funds and HUNTINGTON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Listed Funds position performs unexpectedly, HUNTINGTON 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 HUNTINGTON will offset losses from the drop in HUNTINGTON's long position.
The idea behind Listed Funds Trust and HUNTINGTON BANCSHARES INC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.

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