Correlation Between EGF Theramed and Natural Health
Can any of the company-specific risk be diversified away by investing in both EGF Theramed and Natural Health 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 EGF Theramed and Natural Health into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EGF Theramed Health and Natural Health Farm, you can compare the effects of market volatilities on EGF Theramed and Natural Health 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 EGF Theramed with a short position of Natural Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of EGF Theramed and Natural Health.
Diversification Opportunities for EGF Theramed and Natural Health
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between EGF and Natural is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding EGF Theramed Health and Natural Health Farm in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natural Health Farm and EGF Theramed 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 EGF Theramed Health are associated (or correlated) with Natural Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natural Health Farm has no effect on the direction of EGF Theramed i.e., EGF Theramed and Natural Health go up and down completely randomly.
Pair Corralation between EGF Theramed and Natural Health
If you would invest 36.00 in EGF Theramed Health on September 2, 2024 and sell it today you would lose (14.00) from holding EGF Theramed Health or give up 38.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
EGF Theramed Health vs. Natural Health Farm
Performance |
| Timeline |
| EGF Theramed Health |
| Natural Health Farm |
EGF Theramed and Natural Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EGF Theramed and Natural Health
The main advantage of trading using opposite EGF Theramed and Natural Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EGF Theramed position performs unexpectedly, Natural Health 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 Natural Health will offset losses from the drop in Natural Health's long position.| EGF Theramed vs. Mitesco | EGF Theramed vs. Reliq Health Technologies | EGF Theramed vs. Healthcare Triangle | EGF Theramed vs. Bullfrog AI Holdings, |
| Natural Health vs. EGF Theramed Health | Natural Health vs. Mitesco | Natural Health vs. Reliq Health Technologies | Natural Health vs. Healthcare Triangle |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories |