Correlation Between Exxon and Cleartrack 2035

Can any of the company-specific risk be diversified away by investing in both Exxon and Cleartrack 2035 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 Exxon and Cleartrack 2035 into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Exxon Mobil Corp and Cleartrack 2035 Class, you can compare the effects of market volatilities on Exxon and Cleartrack 2035 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 Exxon with a short position of Cleartrack 2035. Check out your portfolio center. Please also check ongoing floating volatility patterns of Exxon and Cleartrack 2035.

Diversification Opportunities for Exxon and Cleartrack 2035

-0.52

Correlation Coefficient

Exxon  Cleartrack 2035

Excellent diversification

The 3 months correlation between Exxon and Cleartrack is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Exxon Mobil Corp and Cleartrack 2035 Class in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cleartrack 2035 Class and Exxon 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 Exxon Mobil Corp are associated (or correlated) with Cleartrack 2035. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cleartrack 2035 Class has no effect on the direction of Exxon i.e., Exxon and Cleartrack 2035 go up and down completely randomly.

Pair Corralation between Exxon and Cleartrack 2035

If you would invest  10,233  in Exxon Mobil Corp on May 3, 2025 and sell it today you would earn a total of  931.00  from holding Exxon Mobil Corp or generate 9.1% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	1.64%
Values	Daily Returns

Exxon Mobil Corp  vs.  Cleartrack 2035 Class

Exxon Mobil Corp

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Exxon Mobil Corp are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. In spite of very weak basic indicators, Exxon may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Cleartrack 2035 Class

Risk-Adjusted Performance

Very Weak

Over the last 90 days Cleartrack 2035 Class has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Cleartrack 2035 is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Exxon and Cleartrack 2035

The main advantage of trading using opposite Exxon and Cleartrack 2035 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Exxon position performs unexpectedly, Cleartrack 2035 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 Cleartrack 2035 will offset losses from the drop in Cleartrack 2035's long position.

The idea behind Exxon Mobil Corp and Cleartrack 2035 Class 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.

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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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.