Correlation Between Calyxt and Walker Dunlop

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Can any of the company-specific risk be diversified away by investing in both Calyxt and Walker Dunlop 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 Calyxt and Walker Dunlop into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Calyxt Inc and Walker Dunlop, you can compare the effects of market volatilities on Calyxt and Walker Dunlop 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 Calyxt with a short position of Walker Dunlop. Check out your portfolio center. Please also check ongoing floating volatility patterns of Calyxt and Walker Dunlop.

Diversification Opportunities for Calyxt and Walker Dunlop

  Correlation Coefficient

Good diversification

The 3 months correlation between Calyxt and Walker is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Calyxt Inc and Walker Dunlop in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Walker Dunlop and Calyxt 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 Calyxt Inc are associated (or correlated) with Walker Dunlop. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Walker Dunlop has no effect on the direction of Calyxt i.e., Calyxt and Walker Dunlop go up and down completely randomly.

Pair Corralation between Calyxt and Walker Dunlop

Given the investment horizon of 90 days Calyxt Inc is expected to under-perform the Walker Dunlop. In addition to that, Calyxt is 2.51 times more volatile than Walker Dunlop. It trades about -0.07 of its total potential returns per unit of risk. Walker Dunlop is currently generating about 0.08 per unit of volatility. If you would invest  4,740  in Walker Dunlop on May 13, 2022 and sell it today you would earn a total of  6,346  from holding Walker Dunlop or generate 133.88% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
ValuesDaily Returns

Calyxt Inc  vs.  Walker Dunlop

 Performance (%) 
Calyxt Inc 
Calyxt Performance
0 of 100
Over the last 90 days Calyxt Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest sluggish performance, the Stock's basic indicators remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

Calyxt Price Channel

Walker Dunlop 
Walker Performance
5 of 100
Compared to the overall equity markets, risk-adjusted returns on investments in Walker Dunlop are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of rather weak fundamental indicators, Walker Dunlop may actually be approaching a critical reversion point that can send shares even higher in September 2022.

Walker Price Channel

Calyxt and Walker Dunlop Volatility Contrast

   Predicted Return Density   

Pair Trading with Calyxt and Walker Dunlop

The main advantage of trading using opposite Calyxt and Walker Dunlop positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Calyxt position performs unexpectedly, Walker Dunlop 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 Walker Dunlop will offset losses from the drop in Walker Dunlop's long position.

Calyxt Inc

Pair trading matchups for Calyxt

The idea behind Calyxt Inc and Walker Dunlop pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

Walker Dunlop

Pair trading matchups for Walker Dunlop

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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.

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