Correlation Between Republic Bancorp and 532457CG1
Specify exactly 2 symbols:
By analyzing existing cross correlation between Republic Bancorp and LLY 4875 27 FEB 53, you can compare the effects of market volatilities on Republic Bancorp and 532457CG1 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 Republic Bancorp with a short position of 532457CG1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Republic Bancorp and 532457CG1.
Diversification Opportunities for Republic Bancorp and 532457CG1
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Republic and 532457CG1 is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Republic Bancorp and LLY 4875 27 FEB 53 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LLY 4875 27 and Republic Bancorp 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 Republic Bancorp are associated (or correlated) with 532457CG1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LLY 4875 27 has no effect on the direction of Republic Bancorp i.e., Republic Bancorp and 532457CG1 go up and down completely randomly.
Pair Corralation between Republic Bancorp and 532457CG1
Assuming the 90 days horizon Republic Bancorp is expected to generate 1.76 times more return on investment than 532457CG1. However, Republic Bancorp is 1.76 times more volatile than LLY 4875 27 FEB 53. It trades about 0.07 of its potential returns per unit of risk. LLY 4875 27 FEB 53 is currently generating about 0.01 per unit of risk. If you would invest 3,800 in Republic Bancorp on September 26, 2024 and sell it today you would earn a total of 3,359 from holding Republic Bancorp or generate 88.39% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 88.71% |
Values | Daily Returns |
Republic Bancorp vs. LLY 4875 27 FEB 53
Performance |
Timeline |
Republic Bancorp |
LLY 4875 27 |
Republic Bancorp and 532457CG1 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Republic Bancorp and 532457CG1
The main advantage of trading using opposite Republic Bancorp and 532457CG1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Republic Bancorp position performs unexpectedly, 532457CG1 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 532457CG1 will offset losses from the drop in 532457CG1's long position.Republic Bancorp vs. First Community | Republic Bancorp vs. Community West Bancshares | Republic Bancorp vs. First Financial Northwest | Republic Bancorp vs. First Northwest Bancorp |
532457CG1 vs. BBB Foods | 532457CG1 vs. American Airlines Group | 532457CG1 vs. Copa Holdings SA | 532457CG1 vs. Fast Retailing Co |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Other Complementary Tools
Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
Fundamental Analysis View fundamental data based on most recent published financial statements | |
CEOs Directory Screen CEOs from public companies around the world | |
Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |