Correlation Between Fevertree Drinks and Astoria Financial
Can any of the company-specific risk be diversified away by investing in both Fevertree Drinks and Astoria Financial 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 Fevertree Drinks and Astoria Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fevertree Drinks Plc and Astoria Financial Corp, you can compare the effects of market volatilities on Fevertree Drinks and Astoria Financial 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 Fevertree Drinks with a short position of Astoria Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fevertree Drinks and Astoria Financial.
Diversification Opportunities for Fevertree Drinks and Astoria Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fevertree and Astoria is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fevertree Drinks Plc and Astoria Financial Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astoria Financial Corp and Fevertree Drinks 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 Fevertree Drinks Plc are associated (or correlated) with Astoria Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astoria Financial Corp has no effect on the direction of Fevertree Drinks i.e., Fevertree Drinks and Astoria Financial go up and down completely randomly.
Pair Corralation between Fevertree Drinks and Astoria Financial
If you would invest (100.00) in Astoria Financial Corp on September 13, 2024 and sell it today you would earn a total of 100.00 from holding Astoria Financial Corp 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 |
Fevertree Drinks Plc vs. Astoria Financial Corp
Performance |
| Timeline |
| Fevertree Drinks Plc |
| Astoria Financial Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Fevertree Drinks and Astoria Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fevertree Drinks and Astoria Financial
The main advantage of trading using opposite Fevertree Drinks and Astoria Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fevertree Drinks position performs unexpectedly, Astoria Financial 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 Astoria Financial will offset losses from the drop in Astoria Financial's long position.| Fevertree Drinks vs. National Beverage Corp | Fevertree Drinks vs. Celsius Holdings | Fevertree Drinks vs. Monster Beverage Corp | Fevertree Drinks vs. Coca Cola Femsa SAB |
| Astoria Financial vs. Willamette Valley Vineyards | Astoria Financial vs. Fevertree Drinks Plc | Astoria Financial vs. Global E Online | Astoria Financial vs. Artisan Partners Asset |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |