Correlation Between Apollo Investment and EAT WELL
Can any of the company-specific risk be diversified away by investing in both Apollo Investment and EAT WELL 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 Apollo Investment and EAT WELL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Apollo Investment Corp and EAT WELL INVESTMENT, you can compare the effects of market volatilities on Apollo Investment and EAT WELL 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 Apollo Investment with a short position of EAT WELL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apollo Investment and EAT WELL.
Diversification Opportunities for Apollo Investment and EAT WELL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Apollo and EAT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Apollo Investment Corp and EAT WELL INVESTMENT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EAT WELL INVESTMENT and Apollo Investment 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 Apollo Investment Corp are associated (or correlated) with EAT WELL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EAT WELL INVESTMENT has no effect on the direction of Apollo Investment i.e., Apollo Investment and EAT WELL go up and down completely randomly.
Pair Corralation between Apollo Investment and EAT WELL
If you would invest 1,251 in Apollo Investment Corp on August 27, 2024 and sell it today you would earn a total of 83.00 from holding Apollo Investment Corp or generate 6.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Apollo Investment Corp vs. EAT WELL INVESTMENT
Performance |
| Timeline |
| Apollo Investment Corp |
| EAT WELL INVESTMENT |
Apollo Investment and EAT WELL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apollo Investment and EAT WELL
The main advantage of trading using opposite Apollo Investment and EAT WELL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apollo Investment position performs unexpectedly, EAT WELL 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 EAT WELL will offset losses from the drop in EAT WELL's long position.| Apollo Investment vs. Macquarie Group Limited | Apollo Investment vs. MSCI Inc | Apollo Investment vs. Superior Plus Corp | Apollo Investment vs. NMI Holdings |
| EAT WELL vs. The Bank of | EAT WELL vs. Superior Plus Corp | EAT WELL vs. NMI Holdings | EAT WELL vs. Origin Agritech |
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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