Correlation Between AMERITRUST CORP and Interactive Brokers

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Can any of the company-specific risk be diversified away by investing in both AMERITRUST CORP and Interactive Brokers 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 AMERITRUST CORP and Interactive Brokers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AMERITRUST CORP and Interactive Brokers, you can compare the effects of market volatilities on AMERITRUST CORP and Interactive Brokers 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 AMERITRUST CORP with a short position of Interactive Brokers. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMERITRUST CORP and Interactive Brokers.

Diversification Opportunities for AMERITRUST CORP and Interactive Brokers

0.79
  Correlation Coefficient

Poor diversification

The 3 months correlation between AMERITRUST and Interactive is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding AMERITRUST CORP and Interactive Brokers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Interactive Brokers and AMERITRUST CORP 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 AMERITRUST CORP are associated (or correlated) with Interactive Brokers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Interactive Brokers has no effect on the direction of AMERITRUST CORP i.e., AMERITRUST CORP and Interactive Brokers go up and down completely randomly.

Pair Corralation between AMERITRUST CORP and Interactive Brokers

If you would invest  0.10  in AMERITRUST CORP on March 28, 2022 and sell it today you would earn a total of  0.00  from holding AMERITRUST CORP or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

AMERITRUST CORP  vs.  Interactive Brokers

 Performance (%) 
      Timeline 
AMERITRUST CORP 
AMERITRUST Performance
0 of 100
Over the last 90 days AMERITRUST CORP has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest uncertain performance, the Stock's fundamental indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Structure and Payout Changes

Last Split Factor
1:10
Dividend Date
2020-08-06
Last Split Date
2020-08-06

AMERITRUST Price Channel

Interactive Brokers 
Interactive Performance
0 of 100
Over the last 90 days Interactive Brokers has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest weak performance, the Stock's forward-looking signals remain invariable and the latest agitation on Wall Street may also be a sign of long-running gains for the enterprise retail investors.

Structure and Payout Changes

Forward Annual Dividend Yield
0.0069
Payout Ratio
0.12
Forward Annual Dividend Rate
0.4
Dividend Date
2022-06-14
Ex Dividend Date
2022-05-31

Interactive Price Channel

AMERITRUST CORP and Interactive Brokers Volatility Contrast

 Predicted Return Density 
      Returns 

Pair Trading with AMERITRUST CORP and Interactive Brokers

The main advantage of trading using opposite AMERITRUST CORP and Interactive Brokers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMERITRUST CORP position performs unexpectedly, Interactive Brokers 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 Interactive Brokers will offset losses from the drop in Interactive Brokers' long position.

AMERITRUST CORP

Pair trading matchups for AMERITRUST CORP

The idea behind AMERITRUST CORP and Interactive Brokers 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.
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..

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