Correlation Between CREDIT and Sweetgreen
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By analyzing existing cross correlation between CREDIT SUISSE AG and Sweetgreen, you can compare the effects of market volatilities on CREDIT and Sweetgreen 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 CREDIT with a short position of Sweetgreen. Check out your portfolio center. Please also check ongoing floating volatility patterns of CREDIT and Sweetgreen.
Diversification Opportunities for CREDIT and Sweetgreen
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CREDIT and Sweetgreen is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding CREDIT SUISSE AG and Sweetgreen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sweetgreen and CREDIT 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 CREDIT SUISSE AG are associated (or correlated) with Sweetgreen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sweetgreen has no effect on the direction of CREDIT i.e., CREDIT and Sweetgreen go up and down completely randomly.
Pair Corralation between CREDIT and Sweetgreen
Assuming the 90 days trading horizon CREDIT is expected to generate 108.98 times less return on investment than Sweetgreen. But when comparing it to its historical volatility, CREDIT SUISSE AG is 32.27 times less risky than Sweetgreen. It trades about 0.03 of its potential returns per unit of risk. Sweetgreen is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 3,802 in Sweetgreen on September 2, 2024 and sell it today you would earn a total of 296.00 from holding Sweetgreen or generate 7.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 85.71% |
| Values | Daily Returns |
CREDIT SUISSE AG vs. Sweetgreen
Performance |
| Timeline |
| CREDIT SUISSE AG |
| Sweetgreen |
CREDIT and Sweetgreen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CREDIT and Sweetgreen
The main advantage of trading using opposite CREDIT and Sweetgreen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CREDIT position performs unexpectedly, Sweetgreen 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 Sweetgreen will offset losses from the drop in Sweetgreen's long position.| CREDIT vs. Cardinal Health | CREDIT vs. Kura Sushi USA | CREDIT vs. Sweetgreen | CREDIT vs. Ryman Hospitality Properties |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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