Correlation Between 00108WAF7 and FitLife Brands,
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By analyzing existing cross correlation between AEP TEX INC and FitLife Brands, Common, you can compare the effects of market volatilities on 00108WAF7 and FitLife Brands, 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 00108WAF7 with a short position of FitLife Brands,. Check out your portfolio center. Please also check ongoing floating volatility patterns of 00108WAF7 and FitLife Brands,.
Diversification Opportunities for 00108WAF7 and FitLife Brands,
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between 00108WAF7 and FitLife is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding AEP TEX INC and FitLife Brands, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FitLife Brands, Common and 00108WAF7 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 AEP TEX INC are associated (or correlated) with FitLife Brands,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FitLife Brands, Common has no effect on the direction of 00108WAF7 i.e., 00108WAF7 and FitLife Brands, go up and down completely randomly.
Pair Corralation between 00108WAF7 and FitLife Brands,
Assuming the 90 days trading horizon AEP TEX INC is expected to generate 0.78 times more return on investment than FitLife Brands,. However, AEP TEX INC is 1.27 times less risky than FitLife Brands,. It trades about 0.26 of its potential returns per unit of risk. FitLife Brands, Common is currently generating about 0.01 per unit of risk. If you would invest 7,190 in AEP TEX INC on October 25, 2024 and sell it today you would earn a total of 478.00 from holding AEP TEX INC or generate 6.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 68.42% |
| Values | Daily Returns |
AEP TEX INC vs. FitLife Brands, Common
Performance |
| Timeline |
| AEP TEX INC |
| FitLife Brands, Common |
00108WAF7 and FitLife Brands, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 00108WAF7 and FitLife Brands,
The main advantage of trading using opposite 00108WAF7 and FitLife Brands, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 00108WAF7 position performs unexpectedly, FitLife Brands, 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 FitLife Brands, will offset losses from the drop in FitLife Brands,'s long position.| 00108WAF7 vs. FitLife Brands, Common | 00108WAF7 vs. SunOpta | 00108WAF7 vs. CVW CleanTech | 00108WAF7 vs. Northstar Clean Technologies |
| FitLife Brands, vs. Noble Romans | FitLife Brands, vs. Greystone Logistics | FitLife Brands, vs. Innovative Food Hldg | FitLife Brands, vs. Galaxy Gaming |
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 Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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