Correlation Between Delta Air and 53522KAB9
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By analyzing existing cross correlation between Delta Air Lines and LIN 47 05 DEC 25, you can compare the effects of market volatilities on Delta Air and 53522KAB9 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 Delta Air with a short position of 53522KAB9. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Air and 53522KAB9.
Diversification Opportunities for Delta Air and 53522KAB9
Pay attention - limited upside
The 3 months correlation between Delta and 53522KAB9 is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Delta Air Lines and LIN 47 05 DEC 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LIN 47 05 and Delta Air 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 Delta Air Lines are associated (or correlated) with 53522KAB9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LIN 47 05 has no effect on the direction of Delta Air i.e., Delta Air and 53522KAB9 go up and down completely randomly.
Pair Corralation between Delta Air and 53522KAB9
Considering the 90-day investment horizon Delta Air Lines is expected to generate 9.7 times more return on investment than 53522KAB9. However, Delta Air is 9.7 times more volatile than LIN 47 05 DEC 25. It trades about 0.23 of its potential returns per unit of risk. LIN 47 05 DEC 25 is currently generating about -0.09 per unit of risk. If you would invest 4,519 in Delta Air Lines on September 14, 2024 and sell it today you would earn a total of 1,644 from holding Delta Air Lines or generate 36.38% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 95.24% |
Values | Daily Returns |
Delta Air Lines vs. LIN 47 05 DEC 25
Performance |
Timeline |
Delta Air Lines |
LIN 47 05 |
Delta Air and 53522KAB9 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Delta Air and 53522KAB9
The main advantage of trading using opposite Delta Air and 53522KAB9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Air position performs unexpectedly, 53522KAB9 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 53522KAB9 will offset losses from the drop in 53522KAB9's long position.Delta Air vs. American Airlines Group | Delta Air vs. Southwest Airlines | Delta Air vs. JetBlue Airways Corp | Delta Air vs. United Airlines Holdings |
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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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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