Correlation Between Greif Bros and Tupperware Brands
Can any of the company-specific risk be diversified away by investing in both Greif Bros and Tupperware Brands 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 Greif Bros and Tupperware Brands into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Greif Bros and Tupperware Brands, you can compare the effects of market volatilities on Greif Bros and Tupperware Brands 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 Greif Bros with a short position of Tupperware Brands. Check out your portfolio center. Please also check ongoing floating volatility patterns of Greif Bros and Tupperware Brands.
Diversification Opportunities for Greif Bros and Tupperware Brands
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Greif and Tupperware is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Greif Bros and Tupperware Brands in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tupperware Brands and Greif Bros 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 Greif Bros are associated (or correlated) with Tupperware Brands. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tupperware Brands has no effect on the direction of Greif Bros i.e., Greif Bros and Tupperware Brands go up and down completely randomly.
Pair Corralation between Greif Bros and Tupperware Brands
If you would invest 6,294 in Greif Bros on August 25, 2024 and sell it today you would earn a total of 836.00 from holding Greif Bros or generate 13.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 4.35% |
| Values | Daily Returns |
Greif Bros vs. Tupperware Brands
Performance |
| Timeline |
| Greif Bros |
| Tupperware Brands |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Greif Bros and Tupperware Brands Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Greif Bros and Tupperware Brands
The main advantage of trading using opposite Greif Bros and Tupperware Brands positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Greif Bros position performs unexpectedly, Tupperware Brands 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 Tupperware Brands will offset losses from the drop in Tupperware Brands' long position.| Greif Bros vs. Silgan Holdings | Greif Bros vs. AptarGroup | Greif Bros vs. Sonoco Products | Greif Bros vs. Graphic Packaging Holding |
| Tupperware Brands vs. Millennium Group International | Tupperware Brands vs. Sonoco Products | Tupperware Brands vs. Sealed Air | Tupperware Brands vs. Alliance Creative Gr |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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