Correlation Between EAT WELL and Singapore Airlines
Can any of the company-specific risk be diversified away by investing in both EAT WELL and Singapore Airlines 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 Singapore Airlines 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 Singapore Airlines Limited, you can compare the effects of market volatilities on EAT WELL and Singapore Airlines 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 Singapore Airlines. Check out your portfolio center. Please also check ongoing floating volatility patterns of EAT WELL and Singapore Airlines.
Diversification Opportunities for EAT WELL and Singapore Airlines
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between EAT and Singapore is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EAT WELL INVESTMENT and Singapore Airlines Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Singapore Airlines 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 Singapore Airlines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Singapore Airlines has no effect on the direction of EAT WELL i.e., EAT WELL and Singapore Airlines go up and down completely randomly.
Pair Corralation between EAT WELL and Singapore Airlines
If you would invest 441.00 in Singapore Airlines Limited on September 24, 2024 and sell it today you would earn a total of 4.00 from holding Singapore Airlines Limited or generate 0.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
EAT WELL INVESTMENT vs. Singapore Airlines Limited
Performance |
| Timeline |
| EAT WELL INVESTMENT |
| Singapore Airlines |
EAT WELL and Singapore Airlines Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EAT WELL and Singapore Airlines
The main advantage of trading using opposite EAT WELL and Singapore Airlines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EAT WELL position performs unexpectedly, Singapore Airlines 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 Singapore Airlines will offset losses from the drop in Singapore Airlines' long position.| EAT WELL vs. Blackstone Group | EAT WELL vs. The Bank of | EAT WELL vs. Ameriprise Financial | EAT WELL vs. State Street |
| Singapore Airlines vs. EAT WELL INVESTMENT | Singapore Airlines vs. Strategic Investments AS | Singapore Airlines vs. ECHO INVESTMENT ZY | Singapore Airlines vs. United Airlines Holdings |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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