Correlation Between BankInvest Korte and American Airlines
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By analyzing existing cross correlation between BankInvest Korte HY and American Airlines Group, you can compare the effects of market volatilities on BankInvest Korte and American Airlines 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 BankInvest Korte with a short position of American Airlines. Check out your portfolio center. Please also check ongoing floating volatility patterns of BankInvest Korte and American Airlines.
Diversification Opportunities for BankInvest Korte and American Airlines
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between BankInvest and American is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding BankInvest Korte HY and American Airlines Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on American Airlines and BankInvest Korte 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 BankInvest Korte HY are associated (or correlated) with American Airlines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Airlines has no effect on the direction of BankInvest Korte i.e., BankInvest Korte and American Airlines go up and down completely randomly.
Pair Corralation between BankInvest Korte and American Airlines
Assuming the 90 days trading horizon BankInvest Korte is expected to generate 8.05 times less return on investment than American Airlines. But when comparing it to its historical volatility, BankInvest Korte HY is 8.08 times less risky than American Airlines. It trades about 0.09 of its potential returns per unit of risk. American Airlines Group is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 1,115 in American Airlines Group on January 24, 2024 and sell it today you would earn a total of 308.00 from holding American Airlines Group or generate 27.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.19% |
| Values | Daily Returns |
BankInvest Korte HY vs. American Airlines Group
Performance |
| Timeline |
| BankInvest Korte |
| American Airlines |
BankInvest Korte and American Airlines Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BankInvest Korte and American Airlines
The main advantage of trading using opposite BankInvest Korte and American Airlines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BankInvest Korte position performs unexpectedly, American Airlines 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 American Airlines will offset losses from the drop in American Airlines' long position.| BankInvest Korte vs. Novo Nordisk AS | BankInvest Korte vs. Nordea Bank Abp | BankInvest Korte vs. DSV Panalpina AS | BankInvest Korte vs. AP Mller |
| American Airlines vs. Delta Air Lines | American Airlines vs. Southwest Airlines | American Airlines vs. JetBlue Airways Corp | American Airlines vs. Spirit Airlines |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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