Correlation Between Hf Foods and FEDEX
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By analyzing existing cross correlation between Hf Foods Group and FEDEX P 475, you can compare the effects of market volatilities on Hf Foods and FEDEX 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 FEDEX. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hf Foods and FEDEX.
Diversification Opportunities for Hf Foods and FEDEX
Excellent diversification
The 3 months correlation between HFFG and FEDEX is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Hf Foods Group and FEDEX P 475 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FEDEX P 475 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 FEDEX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FEDEX P 475 has no effect on the direction of Hf Foods i.e., Hf Foods and FEDEX go up and down completely randomly.
Pair Corralation between Hf Foods and FEDEX
Given the investment horizon of 90 days Hf Foods Group is expected to generate 1.37 times more return on investment than FEDEX. However, Hf Foods is 1.37 times more volatile than FEDEX P 475. It trades about 0.3 of its potential returns per unit of risk. FEDEX P 475 is currently generating about 0.04 per unit of risk. If you would invest 350.00 in Hf Foods Group on September 12, 2024 and sell it today you would earn a total of 46.00 from holding Hf Foods Group or generate 13.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.91% |
| Values | Daily Returns |
Hf Foods Group vs. FEDEX P 475
Performance |
| Timeline |
| Hf Foods Group |
| FEDEX P 475 |
Hf Foods and FEDEX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hf Foods and FEDEX
The main advantage of trading using opposite Hf Foods and FEDEX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hf Foods position performs unexpectedly, FEDEX 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 FEDEX will offset losses from the drop in FEDEX'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 |
| FEDEX vs. Hf Foods Group | FEDEX vs. Planet Fitness | FEDEX vs. Village Super Market | FEDEX vs. Playa Hotels Resorts |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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