Correlation Between EAT WELL and KORIAN (KO2SG)
Can any of the company-specific risk be diversified away by investing in both EAT WELL and KORIAN (KO2SG) 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 KORIAN (KO2SG) 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 KORIAN, you can compare the effects of market volatilities on EAT WELL and KORIAN (KO2SG) 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 KORIAN (KO2SG). Check out your portfolio center. Please also check ongoing floating volatility patterns of EAT WELL and KORIAN (KO2SG).
Diversification Opportunities for EAT WELL and KORIAN (KO2SG)
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between EAT and KORIAN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EAT WELL INVESTMENT and KORIAN in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KORIAN (KO2SG) 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 KORIAN (KO2SG). Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KORIAN (KO2SG) has no effect on the direction of EAT WELL i.e., EAT WELL and KORIAN (KO2SG) go up and down completely randomly.
Pair Corralation between EAT WELL and KORIAN (KO2SG)
If you would invest 11.00 in EAT WELL INVESTMENT on September 3, 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. KORIAN
Performance |
| Timeline |
| EAT WELL INVESTMENT |
| KORIAN (KO2SG) |
EAT WELL and KORIAN (KO2SG) Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EAT WELL and KORIAN (KO2SG)
The main advantage of trading using opposite EAT WELL and KORIAN (KO2SG) positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EAT WELL position performs unexpectedly, KORIAN (KO2SG) 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 KORIAN (KO2SG) will offset losses from the drop in KORIAN (KO2SG)'s long position.| EAT WELL vs. Blackstone Group | EAT WELL vs. BlackRock | EAT WELL vs. The Bank of | EAT WELL vs. Ameriprise Financial |
| KORIAN (KO2SG) vs. PTT Global Chemical | KORIAN (KO2SG) vs. Sanyo Chemical Industries | KORIAN (KO2SG) vs. MOVIE GAMES SA | KORIAN (KO2SG) vs. Sunny Optical Technology |
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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