Correlation Between Supercom and HASBRO
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By analyzing existing cross correlation between Supercom and HASBRO INC 51, you can compare the effects of market volatilities on Supercom and HASBRO 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 Supercom with a short position of HASBRO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Supercom and HASBRO.
Diversification Opportunities for Supercom and HASBRO
Good diversification
The 3 months correlation between Supercom and HASBRO is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Supercom and HASBRO INC 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HASBRO INC 51 and Supercom 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 Supercom are associated (or correlated) with HASBRO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HASBRO INC 51 has no effect on the direction of Supercom i.e., Supercom and HASBRO go up and down completely randomly.
Pair Corralation between Supercom and HASBRO
Given the investment horizon of 90 days Supercom is expected to generate 2.74 times more return on investment than HASBRO. However, Supercom is 2.74 times more volatile than HASBRO INC 51. It trades about 0.1 of its potential returns per unit of risk. HASBRO INC 51 is currently generating about -0.09 per unit of risk. If you would invest 288.00 in Supercom on September 3, 2024 and sell it today you would earn a total of 78.00 from holding Supercom or generate 27.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 92.19% |
| Values | Daily Returns |
Supercom vs. HASBRO INC 51
Performance |
| Timeline |
| Supercom |
| HASBRO INC 51 |
Supercom and HASBRO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Supercom and HASBRO
The main advantage of trading using opposite Supercom and HASBRO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Supercom position performs unexpectedly, HASBRO 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 HASBRO will offset losses from the drop in HASBRO's long position.| Supercom vs. Zedcor Inc | Supercom vs. SSC Security Services | Supercom vs. Blue Line Protection | Supercom vs. Guardforce AI Co |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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