Correlation Between CompuGroup Medical and Kraft Heinz
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By analyzing existing cross correlation between CompuGroup Medical SE and Kraft Heinz Co, you can compare the effects of market volatilities on CompuGroup Medical and Kraft Heinz 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 CompuGroup Medical with a short position of Kraft Heinz. Check out your portfolio center. Please also check ongoing floating volatility patterns of CompuGroup Medical and Kraft Heinz.
Diversification Opportunities for CompuGroup Medical and Kraft Heinz
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CompuGroup and Kraft is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CompuGroup Medical SE and Kraft Heinz Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kraft Heinz and CompuGroup Medical 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 CompuGroup Medical SE are associated (or correlated) with Kraft Heinz. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kraft Heinz has no effect on the direction of CompuGroup Medical i.e., CompuGroup Medical and Kraft Heinz go up and down completely randomly.
Pair Corralation between CompuGroup Medical and Kraft Heinz
If you would invest 0.00 in Kraft Heinz Co on January 26, 2025 and sell it today you would earn a total of 0.00 from holding Kraft Heinz Co or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
CompuGroup Medical SE vs. Kraft Heinz Co
Performance |
| Timeline |
| CompuGroup Medical |
| Kraft Heinz |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
CompuGroup Medical and Kraft Heinz Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CompuGroup Medical and Kraft Heinz
The main advantage of trading using opposite CompuGroup Medical and Kraft Heinz positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CompuGroup Medical position performs unexpectedly, Kraft Heinz 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 Kraft Heinz will offset losses from the drop in Kraft Heinz's long position.| CompuGroup Medical vs. Elmos Semiconductor SE | CompuGroup Medical vs. UET United Electronic | CompuGroup Medical vs. Benchmark Electronics | CompuGroup Medical vs. Nanjing Panda Electronics |
| Kraft Heinz vs. MOVIE GAMES SA | Kraft Heinz vs. National Storage Affiliates | Kraft Heinz vs. Data3 Limited | Kraft Heinz vs. UNIVMUSIC GRPADR050 |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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