Correlation Between EAT WELL and Knowles
Can any of the company-specific risk be diversified away by investing in both EAT WELL and Knowles 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 EAT WELL and Knowles into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EAT WELL INVESTMENT and Knowles, you can compare the effects of market volatilities on EAT WELL and Knowles 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 EAT WELL with a short position of Knowles. Check out your portfolio center. Please also check ongoing floating volatility patterns of EAT WELL and Knowles.
Diversification Opportunities for EAT WELL and Knowles
Pay attention - limited upside
The 3 months correlation between EAT and Knowles is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EAT WELL INVESTMENT and Knowles in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Knowles and EAT WELL 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 EAT WELL INVESTMENT are associated (or correlated) with Knowles. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Knowles has no effect on the direction of EAT WELL i.e., EAT WELL and Knowles go up and down completely randomly.
Pair Corralation between EAT WELL and Knowles
If you would invest 1,480 in Knowles on September 15, 2024 and sell it today you would earn a total of 390.00 from holding Knowles or generate 26.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.27% |
| Values | Daily Returns |
EAT WELL INVESTMENT vs. Knowles
Performance |
| Timeline |
| EAT WELL INVESTMENT |
| Knowles |
EAT WELL and Knowles Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EAT WELL and Knowles
The main advantage of trading using opposite EAT WELL and Knowles positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EAT WELL position performs unexpectedly, Knowles 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 Knowles will offset losses from the drop in Knowles' long position.| EAT WELL vs. LPKF Laser Electronics | EAT WELL vs. Gamma Communications plc | EAT WELL vs. Computer And Technologies | EAT WELL vs. Computershare Limited |
| Knowles vs. SCIENCE IN SPORT | Knowles vs. Strategic Investments AS | Knowles vs. EAT WELL INVESTMENT | Knowles vs. Big 5 Sporting |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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