Correlation Between 36Kr Holdings and FaZe Holdings
Can any of the company-specific risk be diversified away by investing in both 36Kr Holdings and FaZe Holdings 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 36Kr Holdings and FaZe Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between 36Kr Holdings and FaZe Holdings, you can compare the effects of market volatilities on 36Kr Holdings and FaZe Holdings 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 36Kr Holdings with a short position of FaZe Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of 36Kr Holdings and FaZe Holdings.
Diversification Opportunities for 36Kr Holdings and FaZe Holdings
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between 36Kr and FaZe is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding 36Kr Holdings and FaZe Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FaZe Holdings and 36Kr Holdings 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 36Kr Holdings are associated (or correlated) with FaZe Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FaZe Holdings has no effect on the direction of 36Kr Holdings i.e., 36Kr Holdings and FaZe Holdings go up and down completely randomly.
Pair Corralation between 36Kr Holdings and FaZe Holdings
If you would invest 41.00 in FaZe Holdings on August 24, 2024 and sell it today you would earn a total of 0.00 from holding FaZe Holdings or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.55% |
| Values | Daily Returns |
36Kr Holdings vs. FaZe Holdings
Performance |
| Timeline |
| 36Kr Holdings |
| FaZe Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
36Kr Holdings and FaZe Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 36Kr Holdings and FaZe Holdings
The main advantage of trading using opposite 36Kr Holdings and FaZe Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 36Kr Holdings position performs unexpectedly, FaZe Holdings 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 FaZe Holdings will offset losses from the drop in FaZe Holdings' long position.| 36Kr Holdings vs. Yunji Inc | 36Kr Holdings vs. Fangdd Network Group | 36Kr Holdings vs. Huize Holding | 36Kr Holdings vs. MOGU Inc |
| FaZe Holdings vs. Comscore | FaZe Holdings vs. Arena Group Holdings | FaZe Holdings vs. EverQuote Class A | FaZe Holdings vs. Asset Entities Class |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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