Correlation Between Xinhua Winshare and EAT WELL
Can any of the company-specific risk be diversified away by investing in both Xinhua Winshare and EAT WELL 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 Xinhua Winshare and EAT WELL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Xinhua Winshare Publishing and EAT WELL INVESTMENT, you can compare the effects of market volatilities on Xinhua Winshare and EAT WELL 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 Xinhua Winshare with a short position of EAT WELL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xinhua Winshare and EAT WELL.
Diversification Opportunities for Xinhua Winshare and EAT WELL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xinhua and EAT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xinhua Winshare Publishing and EAT WELL INVESTMENT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EAT WELL INVESTMENT and Xinhua Winshare 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 Xinhua Winshare Publishing are associated (or correlated) with EAT WELL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EAT WELL INVESTMENT has no effect on the direction of Xinhua Winshare i.e., Xinhua Winshare and EAT WELL go up and down completely randomly.
Pair Corralation between Xinhua Winshare and EAT WELL
If you would invest 90.00 in Xinhua Winshare Publishing on September 3, 2024 and sell it today you would earn a total of 26.00 from holding Xinhua Winshare Publishing or generate 28.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xinhua Winshare Publishing vs. EAT WELL INVESTMENT
Performance |
| Timeline |
| Xinhua Winshare Publ |
| EAT WELL INVESTMENT |
Xinhua Winshare and EAT WELL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xinhua Winshare and EAT WELL
The main advantage of trading using opposite Xinhua Winshare and EAT WELL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xinhua Winshare position performs unexpectedly, EAT WELL 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 EAT WELL will offset losses from the drop in EAT WELL's long position.| Xinhua Winshare vs. Superior Plus Corp | Xinhua Winshare vs. NMI Holdings | Xinhua Winshare vs. Origin Agritech | Xinhua Winshare vs. SIVERS SEMICONDUCTORS AB |
| EAT WELL vs. Blackstone Group | EAT WELL vs. BlackRock | EAT WELL vs. The Bank of | EAT WELL vs. Ameriprise Financial |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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