Correlation Between GoHealth and KROGER
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By analyzing existing cross correlation between GoHealth and KROGER CO, you can compare the effects of market volatilities on GoHealth and KROGER 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 GoHealth with a short position of KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of GoHealth and KROGER.
Diversification Opportunities for GoHealth and KROGER
Very good diversification
The 3 months correlation between GoHealth and KROGER is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding GoHealth and KROGER CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER CO and GoHealth 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 GoHealth are associated (or correlated) with KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER CO has no effect on the direction of GoHealth i.e., GoHealth and KROGER go up and down completely randomly.
Pair Corralation between GoHealth and KROGER
Given the investment horizon of 90 days GoHealth is expected to under-perform the KROGER. In addition to that, GoHealth is 3.87 times more volatile than KROGER CO. It trades about -0.01 of its total potential returns per unit of risk. KROGER CO is currently generating about -0.01 per unit of volatility. If you would invest 7,905 in KROGER CO on September 4, 2024 and sell it today you would lose (428.00) from holding KROGER CO or give up 5.41% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 79.36% |
| Values | Daily Returns |
GoHealth vs. KROGER CO
Performance |
| Timeline |
| GoHealth |
| KROGER CO |
GoHealth and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GoHealth and KROGER
The main advantage of trading using opposite GoHealth and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GoHealth position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.| GoHealth vs. eHealth | GoHealth vs. Tian Ruixiang Holdings | GoHealth vs. Huize Holding | GoHealth vs. Selectquote |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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