Correlation Between AMFAHI and Tyson Foods
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By analyzing existing cross correlation between AMFAHI 3833 11 MAR 51 and Tyson Foods, you can compare the effects of market volatilities on AMFAHI and Tyson 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 AMFAHI with a short position of Tyson Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMFAHI and Tyson Foods.
Diversification Opportunities for AMFAHI and Tyson Foods
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AMFAHI and Tyson is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding AMFAHI 3833 11 MAR 51 and Tyson Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tyson Foods and AMFAHI 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 AMFAHI 3833 11 MAR 51 are associated (or correlated) with Tyson Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tyson Foods has no effect on the direction of AMFAHI i.e., AMFAHI and Tyson Foods go up and down completely randomly.
Pair Corralation between AMFAHI and Tyson Foods
Assuming the 90 days trading horizon AMFAHI is expected to generate 1.1 times less return on investment than Tyson Foods. In addition to that, AMFAHI is 1.17 times more volatile than Tyson Foods. It trades about 0.02 of its total potential returns per unit of risk. Tyson Foods is currently generating about 0.03 per unit of volatility. If you would invest 5,218 in Tyson Foods on November 3, 2024 and sell it today you would earn a total of 431.00 from holding Tyson Foods or generate 8.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 33.06% |
| Values | Daily Returns |
AMFAHI 3833 11 MAR 51 vs. Tyson Foods
Performance |
| Timeline |
| AMFAHI 3833 11 |
| Tyson Foods |
AMFAHI and Tyson Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AMFAHI and Tyson Foods
The main advantage of trading using opposite AMFAHI and Tyson Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMFAHI position performs unexpectedly, Tyson 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 Tyson Foods will offset losses from the drop in Tyson Foods' long position.| AMFAHI vs. JBG SMITH Properties | AMFAHI vs. BioNTech SE | AMFAHI vs. Spyre Therapeutics | AMFAHI vs. Tarsus Pharmaceuticals |
| Tyson Foods vs. Bunge Limited | Tyson Foods vs. Cal Maine Foods | Tyson Foods vs. Dole PLC | Tyson Foods vs. Adecoagro SA |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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