Correlation Between Rabbit Holdings and DOHOME
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By analyzing existing cross correlation between Rabbit Holdings PCL and DOHOME, you can compare the effects of market volatilities on Rabbit Holdings and DOHOME 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 Rabbit Holdings with a short position of DOHOME. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rabbit Holdings and DOHOME.
Diversification Opportunities for Rabbit Holdings and DOHOME
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Rabbit and DOHOME is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Rabbit Holdings PCL and DOHOME in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DOHOME and Rabbit 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 Rabbit Holdings PCL are associated (or correlated) with DOHOME. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DOHOME has no effect on the direction of Rabbit Holdings i.e., Rabbit Holdings and DOHOME go up and down completely randomly.
Pair Corralation between Rabbit Holdings and DOHOME
Assuming the 90 days trading horizon Rabbit Holdings PCL is expected to under-perform the DOHOME. But the stock apears to be less risky and, when comparing its historical volatility, Rabbit Holdings PCL is 1.97 times less risky than DOHOME. The stock trades about -0.28 of its potential returns per unit of risk. The DOHOME is currently generating about -0.05 of returns per unit of risk over similar time horizon. If you would invest 748.00 in DOHOME on December 6, 2024 and sell it today you would lose (58.00) from holding DOHOME or give up 7.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Rabbit Holdings PCL vs. DOHOME
Performance |
| Timeline |
| Rabbit Holdings PCL |
| DOHOME |
Rabbit Holdings and DOHOME Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rabbit Holdings and DOHOME
The main advantage of trading using opposite Rabbit Holdings and DOHOME positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rabbit Holdings position performs unexpectedly, DOHOME 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 DOHOME will offset losses from the drop in DOHOME's long position.| Rabbit Holdings vs. VGI Public | ||
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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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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