Correlation Between Exodus Movement, and Eastern

Can any of the company-specific risk be diversified away by investing in both Exodus Movement, and Eastern 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 Exodus Movement, and Eastern into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Exodus Movement, and Eastern Co, you can compare the effects of market volatilities on Exodus Movement, and Eastern 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 Exodus Movement, with a short position of Eastern. Check out your portfolio center. Please also check ongoing floating volatility patterns of Exodus Movement, and Eastern.

Diversification Opportunities for Exodus Movement, and Eastern

-0.6

Correlation Coefficient

Exodus Movement,  Eastern

Excellent diversification

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

Pair Corralation between Exodus Movement, and Eastern

Given the investment horizon of 90 days Exodus Movement, is expected to generate 2.95 times more return on investment than Eastern. However, Exodus Movement, is 2.95 times more volatile than Eastern Co. It trades about 0.13 of its potential returns per unit of risk. Eastern Co is currently generating about 0.02 per unit of risk. If you would invest  1,500  in Exodus Movement, on September 24, 2024 and sell it today you would earn a total of  2,600  from holding Exodus Movement, or generate 173.33% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	99.32%
Values	Daily Returns

Exodus Movement,  vs.  Eastern Co

Exodus Movement,

Risk-Adjusted Performance

16 of 100

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Exodus Movement, are ranked lower than 16 (%) of all global equities and portfolios over the last 90 days. In spite of rather conflicting basic indicators, Exodus Movement, exhibited solid returns over the last few months and may actually be approaching a breakup point.

Eastern

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Eastern Co has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Stock's primary indicators remain persistent and the latest mess on Wall Street may also be a sign of long-standing gains for the company institutional investors.

Pair Trading with Exodus Movement, and Eastern

The main advantage of trading using opposite Exodus Movement, and Eastern positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Exodus Movement, position performs unexpectedly, Eastern 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 Eastern will offset losses from the drop in Eastern's long position.

The idea behind Exodus Movement, and Eastern Co 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.