Correlation Between EAT WELL and DICKER DATA
Can any of the company-specific risk be diversified away by investing in both EAT WELL and DICKER DATA 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 DICKER DATA 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 DICKER DATA LTD, you can compare the effects of market volatilities on EAT WELL and DICKER DATA 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 DICKER DATA. Check out your portfolio center. Please also check ongoing floating volatility patterns of EAT WELL and DICKER DATA.
Diversification Opportunities for EAT WELL and DICKER DATA
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between EAT and DICKER is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EAT WELL INVESTMENT and DICKER DATA LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DICKER DATA LTD 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 DICKER DATA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DICKER DATA LTD has no effect on the direction of EAT WELL i.e., EAT WELL and DICKER DATA go up and down completely randomly.
Pair Corralation between EAT WELL and DICKER DATA
If you would invest 11.00 in EAT WELL INVESTMENT on August 28, 2024 and sell it today you would earn a total of 0.00 from holding EAT WELL INVESTMENT or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
EAT WELL INVESTMENT vs. DICKER DATA LTD
Performance |
| Timeline |
| EAT WELL INVESTMENT |
| DICKER DATA LTD |
EAT WELL and DICKER DATA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EAT WELL and DICKER DATA
The main advantage of trading using opposite EAT WELL and DICKER DATA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EAT WELL position performs unexpectedly, DICKER DATA 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 DICKER DATA will offset losses from the drop in DICKER DATA's long position.| EAT WELL vs. The Bank of | EAT WELL vs. Superior Plus Corp | EAT WELL vs. NMI Holdings | EAT WELL vs. Origin Agritech |
| DICKER DATA vs. Chuangs China Investments | DICKER DATA vs. EAT WELL INVESTMENT | DICKER DATA vs. SLR Investment Corp | DICKER DATA vs. Strategic Investments AS |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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