Correlation Between Central Retail and Moshi Moshi
Can any of the company-specific risk be diversified away by investing in both Central Retail and Moshi Moshi at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Central Retail and Moshi Moshi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Central Retail and Moshi Moshi Retail, you can compare the effects of market volatilities on Central Retail and Moshi Moshi 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 Central Retail with a short position of Moshi Moshi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Central Retail and Moshi Moshi.
Diversification Opportunities for Central Retail and Moshi Moshi
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Central and Moshi is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Central Retail and Moshi Moshi Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moshi Moshi Retail and Central Retail 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 Central Retail are associated (or correlated) with Moshi Moshi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moshi Moshi Retail has no effect on the direction of Central Retail i.e., Central Retail and Moshi Moshi go up and down completely randomly.
Pair Corralation between Central Retail and Moshi Moshi
Assuming the 90 days trading horizon Central Retail is expected to under-perform the Moshi Moshi. But the stock apears to be less risky and, when comparing its historical volatility, Central Retail is 27.69 times less risky than Moshi Moshi. The stock trades about -0.01 of its potential returns per unit of risk. The Moshi Moshi Retail is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 4,594 in Moshi Moshi Retail on September 4, 2024 and sell it today you would earn a total of 81.00 from holding Moshi Moshi Retail or generate 1.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.73% |
| Values | Daily Returns |
Central Retail vs. Moshi Moshi Retail
Performance |
| Timeline |
| Central Retail |
| Moshi Moshi Retail |
Central Retail and Moshi Moshi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Central Retail and Moshi Moshi
The main advantage of trading using opposite Central Retail and Moshi Moshi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Central Retail position performs unexpectedly, Moshi Moshi 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 Moshi Moshi will offset losses from the drop in Moshi Moshi's long position.| Central Retail vs. Sriracha Construction Public | Central Retail vs. Mena Transport Public | Central Retail vs. KT Medical Service | Central Retail vs. Hydrogen Freehold Leasehold |
| Moshi Moshi vs. Central Retail | Moshi Moshi vs. The Erawan Group | Moshi Moshi vs. Autocorp Holding Public | Moshi Moshi vs. XSpring Capital Public |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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