Ally Financial Correlations

Stocks . USA . 
Stock . Ally Financial
ALLY Stock  USD 39.88  0.36  0.89%   
The current 90-days correlation between Ally Financial and Synchrony Financial is 0.82 (i.e., Very poor diversification). The correlation of Ally Financial is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Ally Financial Correlation With Market

Very poor diversification

The correlation between Ally Financial and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ally Financial and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ally Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.
For more information on how to buy Ally Stock please use our How to Invest in Ally Financial guide.

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Moving against Ally Stock

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Ally Stock performing well and Ally Financial Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ally Financial's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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