Correlation Between Fold Holdings, and HF Sinclair
Can any of the company-specific risk be diversified away by investing in both Fold Holdings, and HF Sinclair 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 Fold Holdings, and HF Sinclair into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fold Holdings, Class and HF Sinclair Corp, you can compare the effects of market volatilities on Fold Holdings, and HF Sinclair 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 Fold Holdings, with a short position of HF Sinclair. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fold Holdings, and HF Sinclair.
Diversification Opportunities for Fold Holdings, and HF Sinclair
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fold and DINO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fold Holdings, Class and HF Sinclair Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HF Sinclair Corp and Fold Holdings, 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 Fold Holdings, Class are associated (or correlated) with HF Sinclair. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HF Sinclair Corp has no effect on the direction of Fold Holdings, i.e., Fold Holdings, and HF Sinclair go up and down completely randomly.
Pair Corralation between Fold Holdings, and HF Sinclair
If you would invest (100.00) in Fold Holdings, Class on January 5, 2025 and sell it today you would earn a total of 100.00 from holding Fold Holdings, Class or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Fold Holdings, Class vs. HF Sinclair Corp
Performance |
| Timeline |
| Fold Holdings, Class |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| HF Sinclair Corp |
Fold Holdings, and HF Sinclair Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fold Holdings, and HF Sinclair
The main advantage of trading using opposite Fold Holdings, and HF Sinclair positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fold Holdings, position performs unexpectedly, HF Sinclair 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 HF Sinclair will offset losses from the drop in HF Sinclair's long position.| Fold Holdings, vs. Eastman Chemical | Fold Holdings, vs. Ecolab Inc | Fold Holdings, vs. The Cheesecake Factory | Fold Holdings, vs. Air Products and |
| HF Sinclair vs. Crossamerica Partners LP | HF Sinclair vs. Sunoco LP | HF Sinclair vs. CVR Energy | HF Sinclair vs. Phillips 66 |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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