Correlation Between Genfit and 8426EPAF5
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By analyzing existing cross correlation between Genfit and SO 515 15 SEP 32, you can compare the effects of market volatilities on Genfit and 8426EPAF5 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 Genfit with a short position of 8426EPAF5. Check out your portfolio center. Please also check ongoing floating volatility patterns of Genfit and 8426EPAF5.
Diversification Opportunities for Genfit and 8426EPAF5
Very weak diversification
The 3 months correlation between Genfit and 8426EPAF5 is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Genfit and SO 515 15 SEP 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SO 515 15 and Genfit 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 Genfit are associated (or correlated) with 8426EPAF5. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SO 515 15 has no effect on the direction of Genfit i.e., Genfit and 8426EPAF5 go up and down completely randomly.
Pair Corralation between Genfit and 8426EPAF5
Given the investment horizon of 90 days Genfit is expected to under-perform the 8426EPAF5. In addition to that, Genfit is 1.93 times more volatile than SO 515 15 SEP 32. It trades about -0.31 of its total potential returns per unit of risk. SO 515 15 SEP 32 is currently generating about -0.21 per unit of volatility. If you would invest 10,090 in SO 515 15 SEP 32 on September 26, 2024 and sell it today you would lose (475.00) from holding SO 515 15 SEP 32 or give up 4.71% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 95.24% |
Values | Daily Returns |
Genfit vs. SO 515 15 SEP 32
Performance |
Timeline |
Genfit |
SO 515 15 |
Genfit and 8426EPAF5 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Genfit and 8426EPAF5
The main advantage of trading using opposite Genfit and 8426EPAF5 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genfit position performs unexpectedly, 8426EPAF5 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 8426EPAF5 will offset losses from the drop in 8426EPAF5's long position.Genfit vs. Fate Therapeutics | Genfit vs. Caribou Biosciences | Genfit vs. Karyopharm Therapeutics | Genfit vs. X4 Pharmaceuticals |
8426EPAF5 vs. AEP TEX INC | 8426EPAF5 vs. US BANK NATIONAL | 8426EPAF5 vs. Republic Bancorp | 8426EPAF5 vs. BYD Co Ltd |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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