Correlation Between Blue Apron and Qurate Retail
Can any of the company-specific risk be diversified away by investing in both Blue Apron and Qurate Retail 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 Blue Apron and Qurate Retail into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blue Apron Holdings, and Qurate Retail Series, you can compare the effects of market volatilities on Blue Apron and Qurate Retail 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 Blue Apron with a short position of Qurate Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blue Apron and Qurate Retail.
Diversification Opportunities for Blue Apron and Qurate Retail
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Blue and Qurate is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Blue Apron Holdings, and Qurate Retail Series in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qurate Retail Series and Blue Apron 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 Blue Apron Holdings, are associated (or correlated) with Qurate Retail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qurate Retail Series has no effect on the direction of Blue Apron i.e., Blue Apron and Qurate Retail go up and down completely randomly.
Pair Corralation between Blue Apron and Qurate Retail
If you would invest 497.00 in Blue Apron Holdings, on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Blue Apron Holdings, or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 1.59% |
| Values | Daily Returns |
Blue Apron Holdings, vs. Qurate Retail Series
Performance |
| Timeline |
| Blue Apron Holdings, |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Qurate Retail Series |
Blue Apron and Qurate Retail Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blue Apron and Qurate Retail
The main advantage of trading using opposite Blue Apron and Qurate Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blue Apron position performs unexpectedly, Qurate Retail 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 Qurate Retail will offset losses from the drop in Qurate Retail's long position.| Blue Apron vs. Hour Loop | Blue Apron vs. Wayfair | Blue Apron vs. Kidpik Corp | Blue Apron vs. Oriental Culture Holding |
| Qurate Retail vs. Qurate Retail | Qurate Retail vs. Newegg Commerce | Qurate Retail vs. Kidpik Corp | Qurate Retail vs. Natural Health Trend |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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