Two Equities Correlation Analysis
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This model provides you with a quick lookup of cross correlation between two equities. Please specify two instruments to run the correlation.
Diversification Opportunities for Barclays Capital and NYSE Composite
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Barclays and NYSE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Barclays Capital and NYSE Composite in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NYSE Composite and Barclays Capital 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 Barclays Capital are associated (or correlated) with NYSE Composite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NYSE Composite has no effect on the direction of Barclays Capital i.e., Barclays Capital and NYSE Composite go up and down completely randomly.
Pair Corralation between Barclays Capital and NYSE Composite
If you would invest (100.00) in Barclays Capital on January 20, 2024 and sell it today you would earn a total of 100.00 from holding Barclays Capital 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 |
Barclays Capital vs. NYSE Composite
Performance |
| Timeline |
Barclays Capital and NYSE Composite Volatility Contrast
Predicted Return Density |
| Returns |
Barclays Capital
Pair trading matchups for Barclays Capital
NYSE Composite
Pair trading matchups for NYSE Composite
Pair Trading with Barclays Capital and NYSE Composite
The main advantage of trading using opposite Barclays Capital and NYSE Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barclays Capital position performs unexpectedly, NYSE Composite 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 NYSE Composite will offset losses from the drop in NYSE Composite's long position.| Barclays Capital vs. ETRACS 2xMonthly Pay | Barclays Capital vs. ETRACS Monthly Pay | Barclays Capital vs. ETRACS Monthly Pay | Barclays Capital vs. UBS AG London |
| NYSE Composite vs. Dine Brands Global | NYSE Composite vs. BJs Restaurants | NYSE Composite vs. Chipotle Mexican Grill | NYSE Composite vs. Shake Shack |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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