Correlation Between FitLife Brands, and GENERAL
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By analyzing existing cross correlation between FitLife Brands, Common and GENERAL ELEC CAP, you can compare the effects of market volatilities on FitLife Brands, and GENERAL 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 FitLife Brands, with a short position of GENERAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of FitLife Brands, and GENERAL.
Diversification Opportunities for FitLife Brands, and GENERAL
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between FitLife and GENERAL is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding FitLife Brands, Common and GENERAL ELEC CAP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GENERAL ELEC CAP and FitLife Brands, 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 FitLife Brands, Common are associated (or correlated) with GENERAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GENERAL ELEC CAP has no effect on the direction of FitLife Brands, i.e., FitLife Brands, and GENERAL go up and down completely randomly.
Pair Corralation between FitLife Brands, and GENERAL
Given the investment horizon of 90 days FitLife Brands, Common is expected to generate 0.93 times more return on investment than GENERAL. However, FitLife Brands, Common is 1.07 times less risky than GENERAL. It trades about 0.07 of its potential returns per unit of risk. GENERAL ELEC CAP is currently generating about 0.0 per unit of risk. If you would invest 1,685 in FitLife Brands, Common on September 2, 2024 and sell it today you would earn a total of 1,688 from holding FitLife Brands, Common or generate 100.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 36.44% |
| Values | Daily Returns |
FitLife Brands, Common vs. GENERAL ELEC CAP
Performance |
| Timeline |
| FitLife Brands, Common |
| GENERAL ELEC CAP |
FitLife Brands, and GENERAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FitLife Brands, and GENERAL
The main advantage of trading using opposite FitLife Brands, and GENERAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FitLife Brands, position performs unexpectedly, GENERAL 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 GENERAL will offset losses from the drop in GENERAL's long position.| FitLife Brands, vs. Seneca Foods Corp | FitLife Brands, vs. Central Garden Pet | FitLife Brands, vs. Central Garden Pet | FitLife Brands, vs. Lifeway Foods |
| GENERAL vs. FitLife Brands, Common | GENERAL vs. Rumble Inc | GENERAL vs. Uber Technologies | GENERAL vs. Datadog |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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