Correlation Between RCI Hospitality and Graphic
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By analyzing existing cross correlation between RCI Hospitality Holdings and Graphic Packaging International, you can compare the effects of market volatilities on RCI Hospitality and Graphic 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 RCI Hospitality with a short position of Graphic. Check out your portfolio center. Please also check ongoing floating volatility patterns of RCI Hospitality and Graphic.
Diversification Opportunities for RCI Hospitality and Graphic
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between RCI and Graphic is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding RCI Hospitality Holdings and Graphic Packaging Internationa in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Graphic Packaging and RCI Hospitality 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 RCI Hospitality Holdings are associated (or correlated) with Graphic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Graphic Packaging has no effect on the direction of RCI Hospitality i.e., RCI Hospitality and Graphic go up and down completely randomly.
Pair Corralation between RCI Hospitality and Graphic
Given the investment horizon of 90 days RCI Hospitality Holdings is expected to under-perform the Graphic. In addition to that, RCI Hospitality is 3.32 times more volatile than Graphic Packaging International. It trades about -0.03 of its total potential returns per unit of risk. Graphic Packaging International is currently generating about 0.02 per unit of volatility. If you would invest 9,477 in Graphic Packaging International on September 3, 2024 and sell it today you would earn a total of 218.00 from holding Graphic Packaging International or generate 2.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 48.48% |
| Values | Daily Returns |
RCI Hospitality Holdings vs. Graphic Packaging Internationa
Performance |
| Timeline |
| RCI Hospitality Holdings |
| Graphic Packaging |
RCI Hospitality and Graphic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with RCI Hospitality and Graphic
The main advantage of trading using opposite RCI Hospitality and Graphic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RCI Hospitality position performs unexpectedly, Graphic 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 Graphic will offset losses from the drop in Graphic's long position.| RCI Hospitality vs. Brinker International | RCI Hospitality vs. Bloomin Brands | RCI Hospitality vs. BJs Restaurants | RCI Hospitality vs. Dennys Corp |
| Graphic vs. RCI Hospitality Holdings | Graphic vs. Eldorado Gold Corp | Graphic vs. Chemours Co | Graphic vs. Cannae Holdings |
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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