Correlation Between Yadkin Financial and PostRock Energy
Can any of the company-specific risk be diversified away by investing in both Yadkin Financial and PostRock Energy 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 Yadkin Financial and PostRock Energy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Yadkin Financial Corp and PostRock Energy Corp, you can compare the effects of market volatilities on Yadkin Financial and PostRock Energy 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 Yadkin Financial with a short position of PostRock Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yadkin Financial and PostRock Energy.
Diversification Opportunities for Yadkin Financial and PostRock Energy
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Yadkin and PostRock is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Yadkin Financial Corp and PostRock Energy Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PostRock Energy Corp and Yadkin Financial 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 Yadkin Financial Corp are associated (or correlated) with PostRock Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PostRock Energy Corp has no effect on the direction of Yadkin Financial i.e., Yadkin Financial and PostRock Energy go up and down completely randomly.
Pair Corralation between Yadkin Financial and PostRock Energy
If you would invest 0.00 in PostRock Energy Corp on January 26, 2024 and sell it today you would earn a total of 0.00 from holding PostRock Energy Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Yadkin Financial Corp vs. PostRock Energy Corp
Performance |
| Timeline |
| Yadkin Financial Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| PostRock Energy Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Yadkin Financial and PostRock Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yadkin Financial and PostRock Energy
The main advantage of trading using opposite Yadkin Financial and PostRock Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yadkin Financial position performs unexpectedly, PostRock Energy 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 PostRock Energy will offset losses from the drop in PostRock Energy's long position.| Yadkin Financial vs. Cars Inc | Yadkin Financial vs. Marine Products | Yadkin Financial vs. Franklin Street Properties | Yadkin Financial vs. Smith Douglas Homes |
| PostRock Energy vs. Deluxe | PostRock Energy vs. Magnite | PostRock Energy vs. Xunlei Ltd Adr | PostRock Energy vs. Blue Hat Interactive |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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