Correlation Between Fairfax Financial and 2028 Investment
Specify exactly 2 symbols:
By analyzing existing cross correlation between Fairfax Financial Holdings and 2028 Investment Grade, you can compare the effects of market volatilities on Fairfax Financial and 2028 Investment 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 Fairfax Financial with a short position of 2028 Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fairfax Financial and 2028 Investment.
Diversification Opportunities for Fairfax Financial and 2028 Investment
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Fairfax and 2028 is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Fairfax Financial Holdings and 2028 Investment Grade in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 2028 Investment Grade and Fairfax Financial 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 Fairfax Financial Holdings are associated (or correlated) with 2028 Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 2028 Investment Grade has no effect on the direction of Fairfax Financial i.e., Fairfax Financial and 2028 Investment go up and down completely randomly.
Pair Corralation between Fairfax Financial and 2028 Investment
Assuming the 90 days trading horizon Fairfax Financial is expected to generate 1.77 times less return on investment than 2028 Investment. But when comparing it to its historical volatility, Fairfax Financial Holdings is 4.46 times less risky than 2028 Investment. It trades about 0.07 of its potential returns per unit of risk. 2028 Investment Grade is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,045 in 2028 Investment Grade on November 22, 2024 and sell it today you would earn a total of 20.00 from holding 2028 Investment Grade or generate 1.91% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Fairfax Financial Holdings vs. 2028 Investment Grade
Performance |
Timeline |
Fairfax Financial |
2028 Investment Grade |
Fairfax Financial and 2028 Investment Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Fairfax Financial and 2028 Investment
The main advantage of trading using opposite Fairfax Financial and 2028 Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fairfax Financial position performs unexpectedly, 2028 Investment 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 2028 Investment will offset losses from the drop in 2028 Investment's long position.Fairfax Financial vs. Falcon Energy Materials | ||
Fairfax Financial vs. Primaris Retail RE | ||
Fairfax Financial vs. Olympia Financial Group | ||
Fairfax Financial vs. Sun Life Financial |
2028 Investment vs. Partners Value Investments | ||
2028 Investment vs. Enerev5 Metals | ||
2028 Investment vs. Canadian General Investments | ||
2028 Investment vs. Western Investment |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
Share Portfolio Track or share privately all of your investments from the convenience of any device |