Correlation Between Middlebury National and Huntington Bancshares
Can any of the company-specific risk be diversified away by investing in both Middlebury National and Huntington Bancshares 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 Middlebury National and Huntington Bancshares into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Middlebury National and Huntington Bancshares Incorporated, you can compare the effects of market volatilities on Middlebury National and Huntington Bancshares 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 Middlebury National with a short position of Huntington Bancshares. Check out your portfolio center. Please also check ongoing floating volatility patterns of Middlebury National and Huntington Bancshares.
Diversification Opportunities for Middlebury National and Huntington Bancshares
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Middlebury and Huntington is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Middlebury National and Huntington Bancshares Incorpor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huntington Bancshares and Middlebury National 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 Middlebury National are associated (or correlated) with Huntington Bancshares. 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 has no effect on the direction of Middlebury National i.e., Middlebury National and Huntington Bancshares go up and down completely randomly.
Pair Corralation between Middlebury National and Huntington Bancshares
If you would invest 1,451 in Huntington Bancshares Incorporated on October 5, 2024 and sell it today you would earn a total of 177.00 from holding Huntington Bancshares Incorporated or generate 12.2% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 1.61% |
Values | Daily Returns |
Middlebury National vs. Huntington Bancshares Incorpor
Performance |
Timeline |
Middlebury National |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
Huntington Bancshares |
Middlebury National and Huntington Bancshares Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Middlebury National and Huntington Bancshares
The main advantage of trading using opposite Middlebury National and Huntington Bancshares positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Middlebury National position performs unexpectedly, Huntington Bancshares 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 Bancshares will offset losses from the drop in Huntington Bancshares' long position.Middlebury National vs. Huntington Bancshares Incorporated | Middlebury National vs. KeyCorp | Middlebury National vs. Citizens Financial Group, | Middlebury National vs. Western Alliance Bancorporation |
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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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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