Correlation Between Hf Foods and Astoria Financial
Can any of the company-specific risk be diversified away by investing in both Hf Foods and Astoria Financial 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 Hf Foods and Astoria Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hf Foods Group and Astoria Financial Corp, you can compare the effects of market volatilities on Hf Foods and Astoria Financial 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 Hf Foods with a short position of Astoria Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hf Foods and Astoria Financial.
Diversification Opportunities for Hf Foods and Astoria Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between HFFG and Astoria is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hf Foods Group and Astoria Financial Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astoria Financial Corp and Hf Foods 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 Hf Foods Group are associated (or correlated) with Astoria Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astoria Financial Corp has no effect on the direction of Hf Foods i.e., Hf Foods and Astoria Financial go up and down completely randomly.
Pair Corralation between Hf Foods and Astoria Financial
If you would invest 415.00 in Hf Foods Group on September 5, 2024 and sell it today you would lose (42.00) from holding Hf Foods Group or give up 10.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Hf Foods Group vs. Astoria Financial Corp
Performance |
| Timeline |
| Hf Foods Group |
| Astoria Financial Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Hf Foods and Astoria Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hf Foods and Astoria Financial
The main advantage of trading using opposite Hf Foods and Astoria Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hf Foods position performs unexpectedly, Astoria Financial 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 Astoria Financial will offset losses from the drop in Astoria Financial's long position.| Hf Foods vs. Innovative Food Hldg | Hf Foods vs. G Willi Food International | Hf Foods vs. Calavo Growers | Hf Foods vs. The Chefs Warehouse |
| Astoria Financial vs. Hf Foods Group | Astoria Financial vs. Beyond Meat | Astoria Financial vs. Boot Barn Holdings | Astoria Financial vs. Ross Stores |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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