Correlation Between Crawford and FANH Old
Can any of the company-specific risk be diversified away by investing in both Crawford and FANH Old 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 Crawford and FANH Old into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Crawford Company and FANH Old, you can compare the effects of market volatilities on Crawford and FANH Old 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 Crawford with a short position of FANH Old. Check out your portfolio center. Please also check ongoing floating volatility patterns of Crawford and FANH Old.
Diversification Opportunities for Crawford and FANH Old
Pay attention - limited upside
The 3 months correlation between Crawford and FANH is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Crawford Company and FANH Old in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FANH Old and Crawford 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 Crawford Company are associated (or correlated) with FANH Old. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FANH Old has no effect on the direction of Crawford i.e., Crawford and FANH Old go up and down completely randomly.
Pair Corralation between Crawford and FANH Old
If you would invest 1,071 in Crawford Company on October 20, 2024 and sell it today you would earn a total of 137.00 from holding Crawford Company or generate 12.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Crawford Company vs. FANH Old
Performance |
| Timeline |
| Crawford |
| FANH Old |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Crawford and FANH Old Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Crawford and FANH Old
The main advantage of trading using opposite Crawford and FANH Old positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Crawford position performs unexpectedly, FANH Old 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 FANH Old will offset losses from the drop in FANH Old's long position.| Crawford vs. CorVel Corp | Crawford vs. Erie Indemnity | Crawford vs. Willis Towers Watson | Crawford vs. Crawford Company |
| FANH Old vs. Erie Indemnity | FANH Old vs. Crawford Company | FANH Old vs. Crawford Company | FANH Old vs. CorVel Corp |
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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