Correlation Between Altice and Hf Foods
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By analyzing existing cross correlation between Altice France 55 and Hf Foods Group, you can compare the effects of market volatilities on Altice and Hf Foods 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 Altice with a short position of Hf Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Altice and Hf Foods.
Diversification Opportunities for Altice and Hf Foods
Very weak diversification
The 3 months correlation between Altice and HFFG is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Altice France 55 and Hf Foods Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hf Foods Group and Altice 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 Altice France 55 are associated (or correlated) with Hf Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hf Foods Group has no effect on the direction of Altice i.e., Altice and Hf Foods go up and down completely randomly.
Pair Corralation between Altice and Hf Foods
Assuming the 90 days trading horizon Altice is expected to generate 1.96 times less return on investment than Hf Foods. But when comparing it to its historical volatility, Altice France 55 is 1.03 times less risky than Hf Foods. It trades about 0.06 of its potential returns per unit of risk. Hf Foods Group is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 344.00 in Hf Foods Group on August 31, 2024 and sell it today you would earn a total of 17.00 from holding Hf Foods Group or generate 4.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 77.27% |
| Values | Daily Returns |
Altice France 55 vs. Hf Foods Group
Performance |
| Timeline |
| Altice France 55 |
| Hf Foods Group |
Altice and Hf Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Altice and Hf Foods
The main advantage of trading using opposite Altice and Hf Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Altice position performs unexpectedly, Hf Foods 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 Hf Foods will offset losses from the drop in Hf Foods' long position.| Altice vs. AEP TEX INC | Altice vs. US BANK NATIONAL | Altice vs. FactSet Research Systems | Altice vs. Golden Agri Resources |
| Hf Foods vs. Innovative Food Hldg | Hf Foods vs. G Willi Food International | Hf Foods vs. Calavo Growers | Hf Foods vs. The Chefs Warehouse |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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