Correlation Between Hugo Boss and Focus Home
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By analyzing existing cross correlation between Hugo Boss AG and Focus Home Interactive, you can compare the effects of market volatilities on Hugo Boss and Focus Home 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 Hugo Boss with a short position of Focus Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hugo Boss and Focus Home.
Diversification Opportunities for Hugo Boss and Focus Home
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Hugo and Focus is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Hugo Boss AG and Focus Home Interactive in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Focus Home Interactive and Hugo Boss 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 Hugo Boss AG are associated (or correlated) with Focus Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Focus Home Interactive has no effect on the direction of Hugo Boss i.e., Hugo Boss and Focus Home go up and down completely randomly.
Pair Corralation between Hugo Boss and Focus Home
Assuming the 90 days trading horizon Hugo Boss AG is expected to generate 0.49 times more return on investment than Focus Home. However, Hugo Boss AG is 2.06 times less risky than Focus Home. It trades about -0.02 of its potential returns per unit of risk. Focus Home Interactive is currently generating about -0.02 per unit of risk. If you would invest 6,128 in Hugo Boss AG on October 25, 2024 and sell it today you would lose (1,692) from holding Hugo Boss AG or give up 27.61% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hugo Boss AG vs. Focus Home Interactive
Performance |
| Timeline |
| Hugo Boss AG |
| Focus Home Interactive |
Hugo Boss and Focus Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hugo Boss and Focus Home
The main advantage of trading using opposite Hugo Boss and Focus Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hugo Boss position performs unexpectedly, Focus Home 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 Focus Home will offset losses from the drop in Focus Home's long position.| Hugo Boss vs. VIRGIN WINES UK | Hugo Boss vs. Yuexiu Transport Infrastructure | Hugo Boss vs. PLAY2CHILL SA ZY | Hugo Boss vs. ePlay Digital |
| Focus Home vs. THRACE PLASTICS | Focus Home vs. Martin Marietta Materials | Focus Home vs. CREO MEDICAL GRP | Focus Home vs. PEPTONIC MEDICAL |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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