Correlation Between ANTA Sports and Village Super
Can any of the company-specific risk be diversified away by investing in both ANTA Sports and Village Super 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 ANTA Sports and Village Super into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ANTA Sports Products and Village Super Market, you can compare the effects of market volatilities on ANTA Sports and Village Super 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 ANTA Sports with a short position of Village Super. Check out your portfolio center. Please also check ongoing floating volatility patterns of ANTA Sports and Village Super.
Diversification Opportunities for ANTA Sports and Village Super
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ANTA and Village is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding ANTA Sports Products and Village Super Market in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Village Super Market and ANTA Sports 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 ANTA Sports Products are associated (or correlated) with Village Super. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Village Super Market has no effect on the direction of ANTA Sports i.e., ANTA Sports and Village Super go up and down completely randomly.
Pair Corralation between ANTA Sports and Village Super
Assuming the 90 days horizon ANTA Sports Products is expected to under-perform the Village Super. But the pink sheet apears to be less risky and, when comparing its historical volatility, ANTA Sports Products is 1.25 times less risky than Village Super. The pink sheet trades about -0.1 of its potential returns per unit of risk. The Village Super Market is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 2,854 in Village Super Market on September 1, 2024 and sell it today you would earn a total of 383.00 from holding Village Super Market or generate 13.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ANTA Sports Products vs. Village Super Market
Performance |
| Timeline |
| ANTA Sports Products |
| Village Super Market |
ANTA Sports and Village Super Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ANTA Sports and Village Super
The main advantage of trading using opposite ANTA Sports and Village Super positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ANTA Sports position performs unexpectedly, Village Super 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 Village Super will offset losses from the drop in Village Super's long position.| ANTA Sports vs. TWC Enterprises Limited | ANTA Sports vs. ANTA Sports Products | ANTA Sports vs. Brownies Marine Group | ANTA Sports vs. Golden Heaven Group |
| Village Super vs. Ingles Markets Incorporated | Village Super vs. Grocery Outlet Holding | Village Super vs. Ocado Group plc | Village Super vs. Sprouts Farmers Market |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |