Correlation Between Whiting Petroleum and Multi Manager
Specify exactly 2 symbols:
By analyzing existing cross correlation between Whiting Petroleum and Multi Manager Inv, you can compare the effects of market volatilities on Whiting Petroleum and Multi Manager 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 Whiting Petroleum with a short position of Multi Manager. Check out your portfolio center. Please also check ongoing floating volatility patterns of Whiting Petroleum and Multi Manager.
Diversification Opportunities for Whiting Petroleum and Multi Manager
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Whiting and Multi is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Whiting Petroleum and Multi Manager Inv in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Multi Manager Inv and Whiting Petroleum 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 Whiting Petroleum are associated (or correlated) with Multi Manager. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Multi Manager Inv has no effect on the direction of Whiting Petroleum i.e., Whiting Petroleum and Multi Manager go up and down completely randomly.
Pair Corralation between Whiting Petroleum and Multi Manager
If you would invest (100.00) in Multi Manager Inv on January 19, 2024 and sell it today you would earn a total of 100.00 from holding Multi Manager Inv 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 |
Whiting Petroleum vs. Multi Manager Inv
Performance |
Timeline |
Whiting Petroleum |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Multi Manager Inv |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Whiting Petroleum and Multi Manager Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Whiting Petroleum and Multi Manager
The main advantage of trading using opposite Whiting Petroleum and Multi Manager positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Whiting Petroleum position performs unexpectedly, Multi Manager 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 Multi Manager will offset losses from the drop in Multi Manager's long position.Whiting Petroleum vs. CenterPoint Energy | Whiting Petroleum vs. Black Hills | Whiting Petroleum vs. Portland General Electric | Whiting Petroleum vs. Kinetik Holdings |
Multi Manager vs. NTG Nordic Transport | Multi Manager vs. Moens Bank AS | Multi Manager vs. Formuepleje Mix Medium | Multi Manager vs. Ringkjoebing Landbobank AS |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
Other Complementary Tools
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios |