Correlation Between Sinclair Broadcast and 071707AG8
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By analyzing existing cross correlation between Sinclair Broadcast Group and US071707AG82, you can compare the effects of market volatilities on Sinclair Broadcast and 071707AG8 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 Sinclair Broadcast with a short position of 071707AG8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sinclair Broadcast and 071707AG8.
Diversification Opportunities for Sinclair Broadcast and 071707AG8
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Sinclair and 071707AG8 is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Sinclair Broadcast Group and US071707AG82 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US071707AG82 and Sinclair Broadcast 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 Sinclair Broadcast Group are associated (or correlated) with 071707AG8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US071707AG82 has no effect on the direction of Sinclair Broadcast i.e., Sinclair Broadcast and 071707AG8 go up and down completely randomly.
Pair Corralation between Sinclair Broadcast and 071707AG8
Given the investment horizon of 90 days Sinclair Broadcast Group is expected to generate 1.38 times more return on investment than 071707AG8. However, Sinclair Broadcast is 1.38 times more volatile than US071707AG82. It trades about 0.07 of its potential returns per unit of risk. US071707AG82 is currently generating about -0.25 per unit of risk. If you would invest 1,378 in Sinclair Broadcast Group on September 4, 2025 and sell it today you would earn a total of 151.00 from holding Sinclair Broadcast Group or generate 10.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 12.7% |
| Values | Daily Returns |
Sinclair Broadcast Group vs. US071707AG82
Performance |
| Timeline |
| Sinclair Broadcast |
| US071707AG82 |
Sinclair Broadcast and 071707AG8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sinclair Broadcast and 071707AG8
The main advantage of trading using opposite Sinclair Broadcast and 071707AG8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sinclair Broadcast position performs unexpectedly, 071707AG8 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 071707AG8 will offset losses from the drop in 071707AG8's long position.| Sinclair Broadcast vs. Earthworks Entertainment | Sinclair Broadcast vs. Academy Sports Outdoors | Sinclair Broadcast vs. Live Nation Entertainment | Sinclair Broadcast vs. Contagious Gaming |
| 071707AG8 vs. TCL Electronics Holdings | 071707AG8 vs. Mitsubishi Materials | 071707AG8 vs. Kossan Rubber Industries | 071707AG8 vs. Eagle Materials |
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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