Correlation Between SSF Home and Apollo Food
Can any of the company-specific risk be diversified away by investing in both SSF Home and Apollo Food 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 SSF Home and Apollo Food into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SSF Home Group and Apollo Food Holdings, you can compare the effects of market volatilities on SSF Home and Apollo Food 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 SSF Home with a short position of Apollo Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of SSF Home and Apollo Food.
Diversification Opportunities for SSF Home and Apollo Food
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between SSF and Apollo is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding SSF Home Group and Apollo Food Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apollo Food Holdings and SSF Home 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 SSF Home Group are associated (or correlated) with Apollo Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apollo Food Holdings has no effect on the direction of SSF Home i.e., SSF Home and Apollo Food go up and down completely randomly.
Pair Corralation between SSF Home and Apollo Food
If you would invest 34.00 in SSF Home Group on September 3, 2024 and sell it today you would earn a total of 0.00 from holding SSF Home Group or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SSF Home Group vs. Apollo Food Holdings
Performance |
| Timeline |
| SSF Home Group |
| Apollo Food Holdings |
SSF Home and Apollo Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SSF Home and Apollo Food
The main advantage of trading using opposite SSF Home and Apollo Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SSF Home position performs unexpectedly, Apollo Food 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 Apollo Food will offset losses from the drop in Apollo Food's long position.| SSF Home vs. Choo Bee Metal | SSF Home vs. EA Technique M | SSF Home vs. Resintech Bhd | SSF Home vs. Minetech Resources Bhd |
| Apollo Food vs. Press Metal Bhd | Apollo Food vs. Southern Steel Bhd | Apollo Food vs. Sapura Industrial Bhd | Apollo Food vs. Choo Bee Metal |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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