Correlation Between VIRGIN WINES and MHP Hotel
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By analyzing existing cross correlation between VIRGIN WINES UK and MHP Hotel AG, you can compare the effects of market volatilities on VIRGIN WINES and MHP Hotel 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 VIRGIN WINES with a short position of MHP Hotel. Check out your portfolio center. Please also check ongoing floating volatility patterns of VIRGIN WINES and MHP Hotel.
Diversification Opportunities for VIRGIN WINES and MHP Hotel
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between VIRGIN and MHP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding VIRGIN WINES UK and MHP Hotel AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MHP Hotel AG and VIRGIN WINES 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 VIRGIN WINES UK are associated (or correlated) with MHP Hotel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MHP Hotel AG has no effect on the direction of VIRGIN WINES i.e., VIRGIN WINES and MHP Hotel go up and down completely randomly.
Pair Corralation between VIRGIN WINES and MHP Hotel
If you would invest 116.00 in MHP Hotel AG on August 30, 2024 and sell it today you would earn a total of 1.00 from holding MHP Hotel AG or generate 0.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
VIRGIN WINES UK vs. MHP Hotel AG
Performance |
| Timeline |
| VIRGIN WINES UK |
| MHP Hotel AG |
VIRGIN WINES and MHP Hotel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VIRGIN WINES and MHP Hotel
The main advantage of trading using opposite VIRGIN WINES and MHP Hotel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VIRGIN WINES position performs unexpectedly, MHP Hotel 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 MHP Hotel will offset losses from the drop in MHP Hotel's long position.| VIRGIN WINES vs. LANSON BCC INH EO | VIRGIN WINES vs. Superior Plus Corp | VIRGIN WINES vs. SIVERS SEMICONDUCTORS AB | VIRGIN WINES vs. Talanx AG |
| MHP Hotel vs. Magnis Energy Technologies | MHP Hotel vs. Iron Road Limited | MHP Hotel vs. HYBRIGENICS A | MHP Hotel vs. Superior Plus Corp |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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