Correlation Between Flushing Financial and Bancorp Of
Can any of the company-specific risk be diversified away by investing in both Flushing Financial and Bancorp Of 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 Flushing Financial and Bancorp Of into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Flushing Financial and Bancorp Of New, you can compare the effects of market volatilities on Flushing Financial and Bancorp Of 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 Bancorp Of. Check out your portfolio center. Please also check ongoing floating volatility patterns of Flushing Financial and Bancorp Of.
Diversification Opportunities for Flushing Financial and Bancorp Of
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Flushing and Bancorp is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Flushing Financial and Bancorp Of New in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bancorp Of New 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 are associated (or correlated) with Bancorp Of. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bancorp Of New has no effect on the direction of Flushing Financial i.e., Flushing Financial and Bancorp Of go up and down completely randomly.
Pair Corralation between Flushing Financial and Bancorp Of
If you would invest (100.00) in Bancorp Of New on January 18, 2024 and sell it today you would earn a total of 100.00 from holding Bancorp Of New or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Flushing Financial vs. Bancorp Of New
Performance |
| Timeline |
| Flushing Financial |
| Bancorp Of New |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Flushing Financial and Bancorp Of Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Flushing Financial and Bancorp Of
The main advantage of trading using opposite Flushing Financial and Bancorp Of positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Flushing Financial position performs unexpectedly, Bancorp Of 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 Bancorp Of will offset losses from the drop in Bancorp Of's long position.The idea behind Flushing Financial and Bancorp Of New pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Bancorp Of vs. Air Transport Services | Bancorp Of vs. Nok Airlines Public | Bancorp Of vs. Timken Company | Bancorp Of vs. Coty Inc |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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