Correlation Between U Haul and Femasys
Can any of the company-specific risk be diversified away by investing in both U Haul and Femasys 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 U Haul and Femasys into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between U Haul Holding and Femasys, you can compare the effects of market volatilities on U Haul and Femasys 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 U Haul with a short position of Femasys. Check out your portfolio center. Please also check ongoing floating volatility patterns of U Haul and Femasys.
Diversification Opportunities for U Haul and Femasys
Good diversification
The 3 months correlation between UHAL and Femasys is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding U Haul Holding and Femasys in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Femasys and U Haul 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 U Haul Holding are associated (or correlated) with Femasys. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Femasys has no effect on the direction of U Haul i.e., U Haul and Femasys go up and down completely randomly.
Pair Corralation between U Haul and Femasys
Given the investment horizon of 90 days U Haul Holding is expected to generate 0.55 times more return on investment than Femasys. However, U Haul Holding is 1.83 times less risky than Femasys. It trades about -0.06 of its potential returns per unit of risk. Femasys is currently generating about -0.24 per unit of risk. If you would invest 6,357 in U Haul Holding on January 11, 2025 and sell it today you would lose (284.50) from holding U Haul Holding or give up 4.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
U Haul Holding vs. Femasys
Performance |
| Timeline |
| U Haul Holding |
| Femasys |
U Haul and Femasys Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with U Haul and Femasys
The main advantage of trading using opposite U Haul and Femasys positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if U Haul position performs unexpectedly, Femasys 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 Femasys will offset losses from the drop in Femasys' long position.| U Haul vs. Air Lease | U Haul vs. HE Equipment Services | U Haul vs. GATX Corporation | U Haul vs. Custom Truck One |
| Femasys vs. Precision Optics, | Femasys vs. Repro Med Systems | Femasys vs. InfuSystems Holdings | Femasys vs. Utah Medical Products |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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