Correlation Between American Express and TAKEDA
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By analyzing existing cross correlation between American Express and TAKEDA PHARMACEUTICAL LTD, you can compare the effects of market volatilities on American Express and TAKEDA 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 American Express with a short position of TAKEDA. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Express and TAKEDA.
Diversification Opportunities for American Express and TAKEDA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between American and TAKEDA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding American Express and TAKEDA PHARMACEUTICAL LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TAKEDA PHARMACEUTICAL LTD and American Express 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 American Express are associated (or correlated) with TAKEDA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TAKEDA PHARMACEUTICAL LTD has no effect on the direction of American Express i.e., American Express and TAKEDA go up and down completely randomly.
Pair Corralation between American Express and TAKEDA
If you would invest 32,253 in American Express on September 10, 2025 and sell it today you would earn a total of 3,975 from holding American Express or generate 12.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.59% |
| Values | Daily Returns |
American Express vs. TAKEDA PHARMACEUTICAL LTD
Performance |
| Timeline |
| American Express |
| TAKEDA PHARMACEUTICAL LTD |
Risk-Adjusted Performance
Weakest
Weak | Strong |
American Express and TAKEDA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with American Express and TAKEDA
The main advantage of trading using opposite American Express and TAKEDA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Express position performs unexpectedly, TAKEDA 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 TAKEDA will offset losses from the drop in TAKEDA's long position.| American Express vs. Mastercard | American Express vs. Capital One Financial | American Express vs. PayPal Holdings | American Express vs. Goldman Sachs Group |
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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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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