Correlation Between US Global and Xiabuxiabu Catering
Can any of the company-specific risk be diversified away by investing in both US Global and Xiabuxiabu Catering 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 US Global and Xiabuxiabu Catering into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between US Global Investors and Xiabuxiabu Catering Management, you can compare the effects of market volatilities on US Global and Xiabuxiabu Catering 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 US Global with a short position of Xiabuxiabu Catering. Check out your portfolio center. Please also check ongoing floating volatility patterns of US Global and Xiabuxiabu Catering.
Diversification Opportunities for US Global and Xiabuxiabu Catering
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between GROW and Xiabuxiabu is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding US Global Investors and Xiabuxiabu Catering Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiabuxiabu Catering and US Global 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 US Global Investors are associated (or correlated) with Xiabuxiabu Catering. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiabuxiabu Catering has no effect on the direction of US Global i.e., US Global and Xiabuxiabu Catering go up and down completely randomly.
Pair Corralation between US Global and Xiabuxiabu Catering
If you would invest 14.00 in Xiabuxiabu Catering Management on September 13, 2024 and sell it today you would earn a total of 0.00 from holding Xiabuxiabu Catering Management or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.45% |
| Values | Daily Returns |
US Global Investors vs. Xiabuxiabu Catering Management
Performance |
| Timeline |
| US Global Investors |
| Xiabuxiabu Catering |
US Global and Xiabuxiabu Catering Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with US Global and Xiabuxiabu Catering
The main advantage of trading using opposite US Global and Xiabuxiabu Catering positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if US Global position performs unexpectedly, Xiabuxiabu Catering 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 Xiabuxiabu Catering will offset losses from the drop in Xiabuxiabu Catering's long position.| US Global vs. Gladstone Investment | US Global vs. PennantPark Floating Rate | US Global vs. Horizon Technology Finance | US Global vs. Stellus Capital Investment |
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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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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