Correlation Between MOGU and Blue Apron
Can any of the company-specific risk be diversified away by investing in both MOGU and Blue Apron 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 MOGU and Blue Apron into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MOGU Inc and Blue Apron Holdings,, you can compare the effects of market volatilities on MOGU and Blue Apron 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 MOGU with a short position of Blue Apron. Check out your portfolio center. Please also check ongoing floating volatility patterns of MOGU and Blue Apron.
Diversification Opportunities for MOGU and Blue Apron
0.24 | Correlation Coefficient |
Modest diversification
The 3 months correlation between MOGU and Blue is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding MOGU Inc and Blue Apron Holdings, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blue Apron Holdings, and MOGU 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 MOGU Inc are associated (or correlated) with Blue Apron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blue Apron Holdings, has no effect on the direction of MOGU i.e., MOGU and Blue Apron go up and down completely randomly.
Pair Corralation between MOGU and Blue Apron
If you would invest 209.00 in MOGU Inc on August 24, 2024 and sell it today you would earn a total of 4.00 from holding MOGU Inc or generate 1.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.35% |
| Values | Daily Returns |
MOGU Inc vs. Blue Apron Holdings,
Performance |
| Timeline |
| MOGU Inc |
| Blue Apron Holdings, |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
MOGU and Blue Apron Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MOGU and Blue Apron
The main advantage of trading using opposite MOGU and Blue Apron positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MOGU position performs unexpectedly, Blue Apron 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 Blue Apron will offset losses from the drop in Blue Apron's long position.| MOGU vs. iPower Inc | MOGU vs. LightInTheBox Holding Co | MOGU vs. Qurate Retail Series | MOGU vs. Kidpik Corp |
| Blue Apron vs. Hour Loop | Blue Apron vs. Wayfair | Blue Apron vs. Kidpik Corp | Blue Apron vs. Oriental Culture Holding |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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