Correlation Between Listed Funds and HUNTINGTON
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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 Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 95.45% |
Values | Daily Returns |
Listed Funds Trust vs. HUNTINGTON BANCSHARES INC
Performance |
Timeline |
Listed Funds Trust |
HUNTINGTON BANCSHARES INC |
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.Listed Funds vs. SPDR Bloomberg 1 3 | Listed Funds vs. iShares Short Treasury | Listed Funds vs. JPMorgan Ultra Short Income | Listed Funds vs. WisdomTree Floating Rate |
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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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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