Correlation Analysis Between Flushing Financial and Axos Financial

This module allows you to analyze existing cross correlation between Flushing Financial Corporation and Axos Financial. You can compare the effects of market volatilities on Flushing Financial and Axos Financial 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 Flushing Financial with a short position of Axos Financial. See also your portfolio center. Please also check ongoing floating volatility patterns of Flushing Financial and Axos Financial.
Horizon     30 Days    Login   to change
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Comparative Performance

Flushing Financial  
66

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Flushing Financial Corporation are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, Flushing Financial may actually be approaching a critical reversion point that can send shares even higher in December 2019.
Axos Financial  
66

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Axos Financial are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Inspite fairly weak basic indicators, Axos Financial showed solid returns over the last few months and may actually be approaching a breakup point.

Flushing Financial and Axos Financial Volatility Contrast

 Predicted Return Density 
      Returns 

Flushing Financial Corp.  vs.  Axos Financial Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Flushing Financial is expected to generate 1.81 times less return on investment than Axos Financial. But when comparing it to its historical volatility, Flushing Financial Corporation is 1.69 times less risky than Axos Financial. It trades about 0.09 of its potential returns per unit of risk. Axos Financial is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  2,514  in Axos Financial on October 23, 2019 and sell it today you would earn a total of  389.00  from holding Axos Financial or generate 15.47% return on investment over 30 days.

Pair Corralation between Flushing Financial and Axos Financial

0.89
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Flushing Financial and Axos Financial

Flushing Financial Corp. diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Flushing Financial Corp. and Axos Financial Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Axos Financial and Flushing 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 Flushing Financial Corporation are associated (or correlated) with Axos Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Axos Financial has no effect on the direction of Flushing Financial i.e. Flushing Financial and Axos Financial go up and down completely randomly.
See also your portfolio center. Please also try Content Syndication module to quickly integrate customizable finance content to your own investment portal.


 
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