Correlation Between Elfun Trusts and SIMON
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By analyzing existing cross correlation between Elfun Trusts Elfun and SIMON PPTY GROUP, you can compare the effects of market volatilities on Elfun Trusts and SIMON 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 Elfun Trusts with a short position of SIMON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Elfun Trusts and SIMON.
Diversification Opportunities for Elfun Trusts and SIMON
0.32 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Elfun and SIMON is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding Elfun Trusts Elfun and SIMON PPTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIMON PPTY GROUP and Elfun Trusts 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 Elfun Trusts Elfun are associated (or correlated) with SIMON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIMON PPTY GROUP has no effect on the direction of Elfun Trusts i.e., Elfun Trusts and SIMON go up and down completely randomly.
Pair Corralation between Elfun Trusts and SIMON
Assuming the 90 days horizon Elfun Trusts Elfun is expected to generate 2.0 times more return on investment than SIMON. However, Elfun Trusts is 2.0 times more volatile than SIMON PPTY GROUP. It trades about 0.09 of its potential returns per unit of risk. SIMON PPTY GROUP is currently generating about 0.0 per unit of risk. If you would invest 5,868 in Elfun Trusts Elfun on December 4, 2024 and sell it today you would earn a total of 2,682 from holding Elfun Trusts Elfun or generate 45.71% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 99.8% |
Values | Daily Returns |
Elfun Trusts Elfun vs. SIMON PPTY GROUP
Performance |
Timeline |
Elfun Trusts Elfun |
SIMON PPTY GROUP |
Elfun Trusts and SIMON Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Elfun Trusts and SIMON
The main advantage of trading using opposite Elfun Trusts and SIMON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Elfun Trusts position performs unexpectedly, SIMON 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 SIMON will offset losses from the drop in SIMON's long position.Elfun Trusts vs. Versatile Bond Portfolio | Elfun Trusts vs. Ft 7934 Corporate | Elfun Trusts vs. Credit Suisse Multialternative | Elfun Trusts vs. Rbc Emerging Markets |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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