Correlation Between Hf Foods and LOWES
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By analyzing existing cross correlation between Hf Foods Group and LOWES PANIES INC, you can compare the effects of market volatilities on Hf Foods and LOWES 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 LOWES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hf Foods and LOWES.
Diversification Opportunities for Hf Foods and LOWES
Excellent diversification
The 3 months correlation between HFFG and LOWES is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding Hf Foods Group and LOWES PANIES INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOWES PANIES INC 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 LOWES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOWES PANIES INC has no effect on the direction of Hf Foods i.e., Hf Foods and LOWES go up and down completely randomly.
Pair Corralation between Hf Foods and LOWES
Given the investment horizon of 90 days Hf Foods Group is expected to generate 5.38 times more return on investment than LOWES. However, Hf Foods is 5.38 times more volatile than LOWES PANIES INC. It trades about 0.02 of its potential returns per unit of risk. LOWES PANIES INC is currently generating about 0.01 per unit of risk. If you would invest 400.00 in Hf Foods Group on September 13, 2024 and sell it today you would lose (17.00) from holding Hf Foods Group or give up 4.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Hf Foods Group vs. LOWES PANIES INC
Performance |
| Timeline |
| Hf Foods Group |
| LOWES PANIES INC |
Hf Foods and LOWES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hf Foods and LOWES
The main advantage of trading using opposite Hf Foods and LOWES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hf Foods position performs unexpectedly, LOWES 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 LOWES will offset losses from the drop in LOWES's long position.| Hf Foods vs. Costco Wholesale Corp | Hf Foods vs. BJs Wholesale Club | Hf Foods vs. Dollar Tree | Hf Foods vs. Dollar General |
| LOWES vs. National CineMedia | LOWES vs. Hf Foods Group | LOWES vs. Senmiao Technology | LOWES vs. NH Foods Ltd |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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