Correlation Between Enbridge Pref and Petrus Resources
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By analyzing existing cross correlation between Enbridge Pref 11 and Petrus Resources, you can compare the effects of market volatilities on Enbridge Pref and Petrus Resources 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 Enbridge Pref with a short position of Petrus Resources. Check out your portfolio center. Please also check ongoing floating volatility patterns of Enbridge Pref and Petrus Resources.
Diversification Opportunities for Enbridge Pref and Petrus Resources
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Enbridge and Petrus is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Enbridge Pref 11 and Petrus Resources in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Petrus Resources and Enbridge Pref 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 Enbridge Pref 11 are associated (or correlated) with Petrus Resources. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Petrus Resources has no effect on the direction of Enbridge Pref i.e., Enbridge Pref and Petrus Resources go up and down completely randomly.
Pair Corralation between Enbridge Pref and Petrus Resources
Assuming the 90 days trading horizon Enbridge Pref is expected to generate 4.04 times less return on investment than Petrus Resources. But when comparing it to its historical volatility, Enbridge Pref 11 is 4.18 times less risky than Petrus Resources. It trades about 0.17 of its potential returns per unit of risk. Petrus Resources is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 144.00 in Petrus Resources on September 1, 2025 and sell it today you would earn a total of 35.00 from holding Petrus Resources or generate 24.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Enbridge Pref 11 vs. Petrus Resources
Performance |
| Timeline |
| Enbridge Pref 11 |
| Petrus Resources |
Enbridge Pref and Petrus Resources Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Enbridge Pref and Petrus Resources
The main advantage of trading using opposite Enbridge Pref and Petrus Resources positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Enbridge Pref position performs unexpectedly, Petrus Resources 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 Petrus Resources will offset losses from the drop in Petrus Resources' long position.| Enbridge Pref vs. Arizona Metals Corp | Enbridge Pref vs. High Liner Foods | Enbridge Pref vs. Uniserve Communications Corp | Enbridge Pref vs. Verizon Communications CDR |
| Petrus Resources vs. 2028 Investment Grade | Petrus Resources vs. Homerun Resources | Petrus Resources vs. Brookfield Office Properties | Petrus Resources vs. East Side Games |
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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