Correlation Between Hugo Boss and Superior Plus
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By analyzing existing cross correlation between Hugo Boss AG and Superior Plus Corp, you can compare the effects of market volatilities on Hugo Boss and Superior Plus 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 Superior Plus. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hugo Boss and Superior Plus.
Diversification Opportunities for Hugo Boss and Superior Plus
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Hugo and Superior is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Hugo Boss AG and Superior Plus Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Superior Plus Corp 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 Superior Plus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Superior Plus Corp has no effect on the direction of Hugo Boss i.e., Hugo Boss and Superior Plus go up and down completely randomly.
Pair Corralation between Hugo Boss and Superior Plus
Assuming the 90 days trading horizon Hugo Boss AG is expected to generate 1.85 times more return on investment than Superior Plus. However, Hugo Boss is 1.85 times more volatile than Superior Plus Corp. It trades about 0.1 of its potential returns per unit of risk. Superior Plus Corp is currently generating about 0.1 per unit of risk. If you would invest 3,902 in Hugo Boss AG on September 13, 2024 and sell it today you would earn a total of 300.00 from holding Hugo Boss AG or generate 7.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Hugo Boss AG vs. Superior Plus Corp
Performance |
| Timeline |
| Hugo Boss AG |
| Superior Plus Corp |
Hugo Boss and Superior Plus Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hugo Boss and Superior Plus
The main advantage of trading using opposite Hugo Boss and Superior Plus positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hugo Boss position performs unexpectedly, Superior Plus 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 Superior Plus will offset losses from the drop in Superior Plus' long position.| Hugo Boss vs. Superior Plus Corp | Hugo Boss vs. SIVERS SEMICONDUCTORS AB | Hugo Boss vs. Norsk Hydro ASA | Hugo Boss vs. Reliance Steel Aluminum |
| Superior Plus vs. HF SINCLAIR P | Superior Plus vs. PT Indofood Sukses | Superior Plus vs. SENECA FOODS A | Superior Plus vs. ScanSource |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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