Correlation Between Hf Foods and Airports
Can any of the company-specific risk be diversified away by investing in both Hf Foods and Airports 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 Airports 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 Airports Of Thailand, you can compare the effects of market volatilities on Hf Foods and Airports 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 Airports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hf Foods and Airports.
Diversification Opportunities for Hf Foods and Airports
Pay attention - limited upside
The 3 months correlation between HFFG and Airports is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hf Foods Group and Airports Of Thailand in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Airports Of Thailand 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 Airports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Airports Of Thailand has no effect on the direction of Hf Foods i.e., Hf Foods and Airports go up and down completely randomly.
Pair Corralation between Hf Foods and Airports
If you would invest (100.00) in Airports Of Thailand on December 4, 2024 and sell it today you would earn a total of 100.00 from holding Airports Of Thailand or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Hf Foods Group vs. Airports Of Thailand
Performance |
| Timeline |
| Hf Foods Group |
| Airports Of Thailand |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Hf Foods and Airports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hf Foods and Airports
The main advantage of trading using opposite Hf Foods and Airports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hf Foods position performs unexpectedly, Airports 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 Airports will offset losses from the drop in Airports' 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 |
| Airports vs. Sealed Air | Airports vs. Hudson Technologies | Airports vs. Marfrig Global Foods | Airports vs. Axalta Coating Systems |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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