Correlation Between Cheesecake Factory and KROGER
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By analyzing existing cross correlation between The Cheesecake Factory and KROGER 465 percent, you can compare the effects of market volatilities on Cheesecake Factory and KROGER 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 Cheesecake Factory with a short position of KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cheesecake Factory and KROGER.
Diversification Opportunities for Cheesecake Factory and KROGER
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Cheesecake and KROGER is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding The Cheesecake Factory and KROGER 465 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER 465 percent and Cheesecake Factory 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 The Cheesecake Factory are associated (or correlated) with KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER 465 percent has no effect on the direction of Cheesecake Factory i.e., Cheesecake Factory and KROGER go up and down completely randomly.
Pair Corralation between Cheesecake Factory and KROGER
Given the investment horizon of 90 days The Cheesecake Factory is expected to generate 2.34 times more return on investment than KROGER. However, Cheesecake Factory is 2.34 times more volatile than KROGER 465 percent. It trades about 0.13 of its potential returns per unit of risk. KROGER 465 percent is currently generating about 0.07 per unit of risk. If you would invest 3,394 in The Cheesecake Factory on September 3, 2024 and sell it today you would earn a total of 1,670 from holding The Cheesecake Factory or generate 49.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 62.33% |
| Values | Daily Returns |
The Cheesecake Factory vs. KROGER 465 percent
Performance |
| Timeline |
| The Cheesecake Factory |
| KROGER 465 percent |
Cheesecake Factory and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cheesecake Factory and KROGER
The main advantage of trading using opposite Cheesecake Factory and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cheesecake Factory position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.| Cheesecake Factory vs. Highway Holdings Limited | Cheesecake Factory vs. QCR Holdings | Cheesecake Factory vs. Partner Communications | Cheesecake Factory vs. Acumen Pharmaceuticals |
| KROGER vs. NetEase | KROGER vs. Rave Restaurant Group | KROGER vs. The Cheesecake Factory | KROGER vs. The Wendys Co |
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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