Correlation Between AMCON Distributing and G Willi
Can any of the company-specific risk be diversified away by investing in both AMCON Distributing and G Willi 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 AMCON Distributing and G Willi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AMCON Distributing and G Willi Food International, you can compare the effects of market volatilities on AMCON Distributing and G Willi 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 AMCON Distributing with a short position of G Willi. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMCON Distributing and G Willi.
Diversification Opportunities for AMCON Distributing and G Willi
0.18 | Correlation Coefficient |
Average diversification
The 3 months correlation between AMCON and WILC is 0.18. Overlapping area represents the amount of risk that can be diversified away by holding AMCON Distributing and G Willi Food International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G Willi Food and AMCON Distributing 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 AMCON Distributing are associated (or correlated) with G Willi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G Willi Food has no effect on the direction of AMCON Distributing i.e., AMCON Distributing and G Willi go up and down completely randomly.
Pair Corralation between AMCON Distributing and G Willi
Considering the 90-day investment horizon AMCON Distributing is expected to under-perform the G Willi. In addition to that, AMCON Distributing is 1.38 times more volatile than G Willi Food International. It trades about -0.02 of its total potential returns per unit of risk. G Willi Food International is currently generating about 0.09 per unit of volatility. If you would invest 1,079 in G Willi Food International on November 9, 2024 and sell it today you would earn a total of 661.00 from holding G Willi Food International or generate 61.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.5% |
| Values | Daily Returns |
AMCON Distributing vs. G Willi Food International
Performance |
| Timeline |
| AMCON Distributing |
| G Willi Food |
AMCON Distributing and G Willi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AMCON Distributing and G Willi
The main advantage of trading using opposite AMCON Distributing and G Willi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMCON Distributing position performs unexpectedly, G Willi 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 G Willi will offset losses from the drop in G Willi's long position.| AMCON Distributing vs. The Chefs Warehouse | AMCON Distributing vs. G Willi Food International | AMCON Distributing vs. SpartanNash Co | AMCON Distributing vs. Calavo Growers |
| G Willi vs. Hf Foods Group | G Willi vs. Innovative Food Hldg | G Willi vs. Calavo Growers | G Willi vs. The Chefs Warehouse |
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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