Correlation Between Sligro Food and KROGER
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By analyzing existing cross correlation between Sligro Food Group and KROGER 37 percent, you can compare the effects of market volatilities on Sligro Food and KROGER 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 Sligro Food with a short position of KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sligro Food and KROGER.
Diversification Opportunities for Sligro Food and KROGER
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sligro and KROGER is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Sligro Food Group and KROGER 37 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER 37 percent and Sligro Food 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 Sligro Food Group are associated (or correlated) with KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER 37 percent has no effect on the direction of Sligro Food i.e., Sligro Food and KROGER go up and down completely randomly.
Pair Corralation between Sligro Food and KROGER
Assuming the 90 days horizon Sligro Food Group is expected to under-perform the KROGER. In addition to that, Sligro Food is 2.92 times more volatile than KROGER 37 percent. It trades about -0.06 of its total potential returns per unit of risk. KROGER 37 percent is currently generating about -0.01 per unit of volatility. If you would invest 9,597 in KROGER 37 percent on September 3, 2024 and sell it today you would lose (232.00) from holding KROGER 37 percent or give up 2.42% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 88.03% |
| Values | Daily Returns |
Sligro Food Group vs. KROGER 37 percent
Performance |
| Timeline |
| Sligro Food Group |
| KROGER 37 percent |
Sligro Food and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sligro Food and KROGER
The main advantage of trading using opposite Sligro Food and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sligro Food position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.| Sligro Food vs. Legacy Education | Sligro Food vs. Apple Inc | Sligro Food vs. NVIDIA | Sligro Food vs. Microsoft |
| KROGER vs. Sligro Food Group | KROGER vs. Fevertree Drinks Plc | KROGER vs. National Beverage Corp | KROGER vs. Fomento Economico Mexicano |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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