Correlation Between MOGU and 1 800
Can any of the company-specific risk be diversified away by investing in both MOGU and 1 800 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 1 800 into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MOGU Inc and 1 800 FLOWERSCOM, you can compare the effects of market volatilities on MOGU and 1 800 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 1 800. Check out your portfolio center. Please also check ongoing floating volatility patterns of MOGU and 1 800.
Diversification Opportunities for MOGU and 1 800
Significant diversification
The 3 months correlation between MOGU and FLWS is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding MOGU Inc and 1 800 FLOWERSCOM in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 1 800 FLOWERSCOM 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 1 800. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 1 800 FLOWERSCOM has no effect on the direction of MOGU i.e., MOGU and 1 800 go up and down completely randomly.
Pair Corralation between MOGU and 1 800
Given the investment horizon of 90 days MOGU Inc is expected to generate 0.67 times more return on investment than 1 800. However, MOGU Inc is 1.5 times less risky than 1 800. It trades about 0.18 of its potential returns per unit of risk. 1 800 FLOWERSCOM is currently generating about 0.05 per unit of risk. If you would invest 230.00 in MOGU Inc on November 4, 2024 and sell it today you would earn a total of 20.00 from holding MOGU Inc or generate 8.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
MOGU Inc vs. 1 800 FLOWERSCOM
Performance |
| Timeline |
| MOGU Inc |
| 1 800 FLOWERSCOM |
MOGU and 1 800 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MOGU and 1 800
The main advantage of trading using opposite MOGU and 1 800 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MOGU position performs unexpectedly, 1 800 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 1 800 will offset losses from the drop in 1 800's long position.| MOGU vs. iPower Inc | MOGU vs. LightInTheBox Holding Co | MOGU vs. Qurate Retail Series | MOGU vs. Kidpik Corp |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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