Correlation Between FirstCash and Curo Group
Can any of the company-specific risk be diversified away by investing in both FirstCash and Curo Group 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 FirstCash and Curo Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FirstCash and Curo Group Holdings, you can compare the effects of market volatilities on FirstCash and Curo Group 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 FirstCash with a short position of Curo Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of FirstCash and Curo Group.
Diversification Opportunities for FirstCash and Curo Group
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between FirstCash and Curo is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding FirstCash and Curo Group Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Curo Group Holdings and FirstCash 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 FirstCash are associated (or correlated) with Curo Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Curo Group Holdings has no effect on the direction of FirstCash i.e., FirstCash and Curo Group go up and down completely randomly.
Pair Corralation between FirstCash and Curo Group
If you would invest 154.00 in Curo Group Holdings on August 26, 2024 and sell it today you would earn a total of 0.00 from holding Curo Group Holdings or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.4% |
| Values | Daily Returns |
FirstCash vs. Curo Group Holdings
Performance |
| Timeline |
| FirstCash |
| Curo Group Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
FirstCash and Curo Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FirstCash and Curo Group
The main advantage of trading using opposite FirstCash and Curo Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FirstCash position performs unexpectedly, Curo Group 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 Curo Group will offset losses from the drop in Curo Group's long position.| FirstCash vs. World Acceptance | FirstCash vs. Enova International | FirstCash vs. Green Dot | FirstCash vs. Medallion Financial Corp |
| Curo Group vs. Enova International | Curo Group vs. Orix Corp Ads | Curo Group vs. Consumer Portfolio Services | Curo Group vs. World Acceptance |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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