Correlation Between MHP Hotel and VIRGIN WINES
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By analyzing existing cross correlation between MHP Hotel AG and VIRGIN WINES UK, you can compare the effects of market volatilities on MHP Hotel and VIRGIN WINES 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 MHP Hotel with a short position of VIRGIN WINES. Check out your portfolio center. Please also check ongoing floating volatility patterns of MHP Hotel and VIRGIN WINES.
Diversification Opportunities for MHP Hotel and VIRGIN WINES
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MHP and VIRGIN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MHP Hotel AG and VIRGIN WINES UK in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VIRGIN WINES UK and MHP Hotel 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 MHP Hotel AG are associated (or correlated) with VIRGIN WINES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VIRGIN WINES UK has no effect on the direction of MHP Hotel i.e., MHP Hotel and VIRGIN WINES go up and down completely randomly.
Pair Corralation between MHP Hotel and VIRGIN WINES
If you would invest 116.00 in MHP Hotel AG on August 26, 2024 and sell it today you would earn a total of 4.00 from holding MHP Hotel AG or generate 3.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
MHP Hotel AG vs. VIRGIN WINES UK
Performance |
| Timeline |
| MHP Hotel AG |
| VIRGIN WINES UK |
MHP Hotel and VIRGIN WINES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MHP Hotel and VIRGIN WINES
The main advantage of trading using opposite MHP Hotel and VIRGIN WINES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MHP Hotel position performs unexpectedly, VIRGIN WINES 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 VIRGIN WINES will offset losses from the drop in VIRGIN WINES's long position.| MHP Hotel vs. Lloyds Banking Group | MHP Hotel vs. KB Financial Group | MHP Hotel vs. ORIX Corporation | MHP Hotel vs. Orix Corp Ads |
| VIRGIN WINES vs. Altia Oyj | VIRGIN WINES vs. LANSON BCC INH EO | VIRGIN WINES vs. Superior Plus Corp | VIRGIN WINES vs. NMI Holdings |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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