Correlation Between HKFoods Oyj and Aiforia Technologies
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By analyzing existing cross correlation between HKFoods Oyj A and Aiforia Technologies Oyj, you can compare the effects of market volatilities on HKFoods Oyj and Aiforia Technologies 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 HKFoods Oyj with a short position of Aiforia Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of HKFoods Oyj and Aiforia Technologies.
Diversification Opportunities for HKFoods Oyj and Aiforia Technologies
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between HKFoods and Aiforia is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding HKFoods Oyj A and Aiforia Technologies Oyj in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aiforia Technologies Oyj and HKFoods Oyj 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 HKFoods Oyj A are associated (or correlated) with Aiforia Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aiforia Technologies Oyj has no effect on the direction of HKFoods Oyj i.e., HKFoods Oyj and Aiforia Technologies go up and down completely randomly.
Pair Corralation between HKFoods Oyj and Aiforia Technologies
Assuming the 90 days trading horizon HKFoods Oyj A is expected to generate 1.83 times more return on investment than Aiforia Technologies. However, HKFoods Oyj is 1.83 times more volatile than Aiforia Technologies Oyj. It trades about 0.15 of its potential returns per unit of risk. Aiforia Technologies Oyj is currently generating about -0.37 per unit of risk. If you would invest 75.00 in HKFoods Oyj A on August 27, 2024 and sell it today you would earn a total of 8.00 from holding HKFoods Oyj A or generate 10.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HKFoods Oyj A vs. Aiforia Technologies Oyj
Performance |
| Timeline |
| HKFoods Oyj A |
| Aiforia Technologies Oyj |
HKFoods Oyj and Aiforia Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HKFoods Oyj and Aiforia Technologies
The main advantage of trading using opposite HKFoods Oyj and Aiforia Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HKFoods Oyj position performs unexpectedly, Aiforia Technologies 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 Aiforia Technologies will offset losses from the drop in Aiforia Technologies' long position.| HKFoods Oyj vs. Kamux Suomi Oy | HKFoods Oyj vs. Harvia Oyj | HKFoods Oyj vs. Qt Group Oyj | HKFoods Oyj vs. Tecnotree Oyj |
| Aiforia Technologies vs. Kamux Suomi Oy | Aiforia Technologies vs. Harvia Oyj | Aiforia Technologies vs. Qt Group Oyj | Aiforia Technologies vs. Tecnotree Oyj |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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