Correlation Between COMCAST and Hf Foods
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By analyzing existing cross correlation between COMCAST PORATION and Hf Foods Group, you can compare the effects of market volatilities on COMCAST 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 COMCAST with a short position of Hf Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of COMCAST and Hf Foods.
Diversification Opportunities for COMCAST and Hf Foods
Modest diversification
The 3 months correlation between COMCAST and HFFG is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding COMCAST PORATION 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 COMCAST 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 COMCAST PORATION 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 COMCAST i.e., COMCAST and Hf Foods go up and down completely randomly.
Pair Corralation between COMCAST and Hf Foods
Assuming the 90 days trading horizon COMCAST PORATION is expected to generate 0.49 times more return on investment than Hf Foods. However, COMCAST PORATION is 2.03 times less risky than Hf Foods. It trades about -0.2 of its potential returns per unit of risk. Hf Foods Group is currently generating about -0.24 per unit of risk. If you would invest 9,713 in COMCAST PORATION on November 18, 2024 and sell it today you would lose (447.00) from holding COMCAST PORATION or give up 4.6% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
COMCAST PORATION vs. Hf Foods Group
Performance |
| Timeline |
| COMCAST PORATION |
| Hf Foods Group |
COMCAST and Hf Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with COMCAST and Hf Foods
The main advantage of trading using opposite COMCAST and Hf Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if COMCAST 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.| COMCAST vs. Compania Cervecerias Unidas | COMCAST vs. ON24 Inc | COMCAST vs. Q2 Holdings | COMCAST vs. Vita Coco |
| 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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