Correlation Between Grocery Outlet and 548661EF0
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By analyzing existing cross correlation between Grocery Outlet Holding and LOW 445 01 APR 62, you can compare the effects of market volatilities on Grocery Outlet and 548661EF0 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 Grocery Outlet with a short position of 548661EF0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grocery Outlet and 548661EF0.
Diversification Opportunities for Grocery Outlet and 548661EF0
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Grocery and 548661EF0 is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Grocery Outlet Holding and LOW 445 01 APR 62 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOW 445 01 and Grocery Outlet 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 Grocery Outlet Holding are associated (or correlated) with 548661EF0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOW 445 01 has no effect on the direction of Grocery Outlet i.e., Grocery Outlet and 548661EF0 go up and down completely randomly.
Pair Corralation between Grocery Outlet and 548661EF0
Allowing for the 90-day total investment horizon Grocery Outlet is expected to generate 1.34 times less return on investment than 548661EF0. In addition to that, Grocery Outlet is 2.77 times more volatile than LOW 445 01 APR 62. It trades about 0.06 of its total potential returns per unit of risk. LOW 445 01 APR 62 is currently generating about 0.21 per unit of volatility. If you would invest 7,991 in LOW 445 01 APR 62 on September 13, 2024 and sell it today you would earn a total of 382.00 from holding LOW 445 01 APR 62 or generate 4.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Grocery Outlet Holding vs. LOW 445 01 APR 62
Performance |
| Timeline |
| Grocery Outlet Holding |
| LOW 445 01 |
Grocery Outlet and 548661EF0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grocery Outlet and 548661EF0
The main advantage of trading using opposite Grocery Outlet and 548661EF0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grocery Outlet position performs unexpectedly, 548661EF0 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 548661EF0 will offset losses from the drop in 548661EF0's long position.| Grocery Outlet vs. Natural Grocers by | Grocery Outlet vs. Village Super Market | Grocery Outlet vs. Ingles Markets Incorporated | Grocery Outlet vs. Ocado Group plc |
| 548661EF0 vs. KNOT Offshore Partners | 548661EF0 vs. National Beverage Corp | 548661EF0 vs. The Coca Cola | 548661EF0 vs. BW Offshore Limited |
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.
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