Correlation Between CVR Energy and Pinterest
Can any of the company-specific risk be diversified away by investing in both CVR Energy and Pinterest 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 CVR Energy and Pinterest into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CVR Energy and Pinterest, you can compare the effects of market volatilities on CVR Energy and Pinterest 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 CVR Energy with a short position of Pinterest. Check out your portfolio center. Please also check ongoing floating volatility patterns of CVR Energy and Pinterest.
Diversification Opportunities for CVR Energy and Pinterest
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between CVR and Pinterest is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding CVR Energy and Pinterest in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pinterest and CVR Energy 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 CVR Energy are associated (or correlated) with Pinterest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pinterest has no effect on the direction of CVR Energy i.e., CVR Energy and Pinterest go up and down completely randomly.
Pair Corralation between CVR Energy and Pinterest
Considering the 90-day investment horizon CVR Energy is expected to generate 0.82 times more return on investment than Pinterest. However, CVR Energy is 1.22 times less risky than Pinterest. It trades about 0.1 of its potential returns per unit of risk. Pinterest is currently generating about -0.15 per unit of risk. If you would invest 2,958 in CVR Energy on August 27, 2025 and sell it today you would earn a total of 489.00 from holding CVR Energy or generate 16.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CVR Energy vs. Pinterest
Performance |
| Timeline |
| CVR Energy |
CVR Energy and Pinterest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CVR Energy and Pinterest
The main advantage of trading using opposite CVR Energy and Pinterest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CVR Energy position performs unexpectedly, Pinterest 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 Pinterest will offset losses from the drop in Pinterest's long position.| CVR Energy vs. Abingdon Health Plc | CVR Energy vs. Eternal Hospitality Group | CVR Energy vs. Vice Health and | CVR Energy vs. Ainsworth Game Technology |
| Pinterest vs. Fortescue Metals Group | Pinterest vs. C3 Metals | Pinterest vs. Marimaca Copper Corp | Pinterest vs. Enduro Metals |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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