Correlation Between Frp Holdings and 36Kr Holdings
Can any of the company-specific risk be diversified away by investing in both Frp Holdings and 36Kr Holdings 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 Frp Holdings and 36Kr Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Frp Holdings Ord and 36Kr Holdings, you can compare the effects of market volatilities on Frp Holdings and 36Kr Holdings 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 Frp Holdings with a short position of 36Kr Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Frp Holdings and 36Kr Holdings.
Diversification Opportunities for Frp Holdings and 36Kr Holdings
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Frp and 36Kr is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Frp Holdings Ord and 36Kr Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 36Kr Holdings and Frp 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 Frp Holdings Ord are associated (or correlated) with 36Kr Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 36Kr Holdings has no effect on the direction of Frp Holdings i.e., Frp Holdings and 36Kr Holdings go up and down completely randomly.
Pair Corralation between Frp Holdings and 36Kr Holdings
Given the investment horizon of 90 days Frp Holdings Ord is expected to generate 0.34 times more return on investment than 36Kr Holdings. However, Frp Holdings Ord is 2.91 times less risky than 36Kr Holdings. It trades about 0.02 of its potential returns per unit of risk. 36Kr Holdings is currently generating about -0.05 per unit of risk. If you would invest 2,712 in Frp Holdings Ord on September 21, 2024 and sell it today you would earn a total of 276.00 from holding Frp Holdings Ord or generate 10.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Frp Holdings Ord vs. 36Kr Holdings
Performance |
| Timeline |
| Frp Holdings Ord |
| 36Kr Holdings |
Frp Holdings and 36Kr Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Frp Holdings and 36Kr Holdings
The main advantage of trading using opposite Frp Holdings and 36Kr Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Frp Holdings position performs unexpectedly, 36Kr Holdings 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 36Kr Holdings will offset losses from the drop in 36Kr Holdings' long position.| Frp Holdings vs. Ascendas India Trust | Frp Holdings vs. Asia Pptys | Frp Holdings vs. Adler Group SA | Frp Holdings vs. Aztec Land Comb |
| 36Kr Holdings vs. Southcorp Capital | 36Kr Holdings vs. Frp Holdings Ord | 36Kr Holdings vs. Ucommune International | 36Kr Holdings vs. Ohmyhome Limited Ordinary |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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