Correlation Between My Foodie and Finexia Financial
Can any of the company-specific risk be diversified away by investing in both My Foodie and Finexia Financial 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 My Foodie and Finexia Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between My Foodie Box and Finexia Financial Group, you can compare the effects of market volatilities on My Foodie and Finexia Financial 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 My Foodie with a short position of Finexia Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of My Foodie and Finexia Financial.
Diversification Opportunities for My Foodie and Finexia Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MBX and Finexia is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding My Foodie Box and Finexia Financial Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Finexia Financial and My Foodie 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 My Foodie Box are associated (or correlated) with Finexia Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Finexia Financial has no effect on the direction of My Foodie i.e., My Foodie and Finexia Financial go up and down completely randomly.
Pair Corralation between My Foodie and Finexia Financial
If you would invest 26.00 in Finexia Financial Group on September 14, 2024 and sell it today you would earn a total of 5.00 from holding Finexia Financial Group or generate 19.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
My Foodie Box vs. Finexia Financial Group
Performance |
| Timeline |
| My Foodie Box |
| Finexia Financial |
My Foodie and Finexia Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with My Foodie and Finexia Financial
The main advantage of trading using opposite My Foodie and Finexia Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if My Foodie position performs unexpectedly, Finexia Financial 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 Finexia Financial will offset losses from the drop in Finexia Financial's long position.| My Foodie vs. Aneka Tambang Tbk | My Foodie vs. Macquarie Group | My Foodie vs. Macquarie Group Ltd | My Foodie vs. Challenger |
| Finexia Financial vs. Galena Mining | Finexia Financial vs. Sandon Capital Investments | Finexia Financial vs. Black Rock Mining | Finexia Financial vs. Alternative Investment Trust |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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