Correlation Between 21st Century and Interactive Brokers
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By analyzing existing cross correlation between 21st Century Management and Interactive Brokers Group, you can compare the effects of market volatilities on 21st Century 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 21st Century with a short position of Interactive Brokers. Check out your portfolio center. Please also check ongoing floating volatility patterns of 21st Century and Interactive Brokers.
Diversification Opportunities for 21st Century and Interactive Brokers
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 21st and Interactive is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding 21st Century Management and Interactive Brokers Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Interactive Brokers and 21st Century 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 21st Century Management 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 21st Century i.e., 21st Century and Interactive Brokers go up and down completely randomly.
Pair Corralation between 21st Century and Interactive Brokers
Assuming the 90 days trading horizon 21st Century Management is expected to under-perform the Interactive Brokers. But the stock apears to be less risky and, when comparing its historical volatility, 21st Century Management is 1.89 times less risky than Interactive Brokers. The stock trades about -0.32 of its potential returns per unit of risk. The Interactive Brokers Group is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 6,356 in Interactive Brokers Group on August 16, 2025 and sell it today you would earn a total of 348.00 from holding Interactive Brokers Group or generate 5.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
21st Century Management vs. Interactive Brokers Group
Performance |
| Timeline |
| 21st Century Management |
| Interactive Brokers |
21st Century and Interactive Brokers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 21st Century and Interactive Brokers
The main advantage of trading using opposite 21st Century and Interactive Brokers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 21st Century 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.| 21st Century vs. Golden Tobacco Limited | 21st Century vs. Himadri Speciality Chemical | 21st Century vs. Chemcon Speciality Chemicals | 21st Century vs. Sanginita Chemicals Limited |
| Interactive Brokers vs. Brookfield Corp | Interactive Brokers vs. Robinhood Markets | Interactive Brokers vs. Chubb | Interactive Brokers vs. ICICI Bank Limited |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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