Correlation Between KROGER and Weyco
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By analyzing existing cross correlation between KROGER 35 percent and Weyco Group, you can compare the effects of market volatilities on KROGER and Weyco 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 KROGER with a short position of Weyco. Check out your portfolio center. Please also check ongoing floating volatility patterns of KROGER and Weyco.
Diversification Opportunities for KROGER and Weyco
Good diversification
The 3 months correlation between KROGER and Weyco is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding KROGER 35 percent and Weyco Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Weyco Group and KROGER 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 KROGER 35 percent are associated (or correlated) with Weyco. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Weyco Group has no effect on the direction of KROGER i.e., KROGER and Weyco go up and down completely randomly.
Pair Corralation between KROGER and Weyco
Assuming the 90 days trading horizon KROGER 35 percent is expected to generate 0.58 times more return on investment than Weyco. However, KROGER 35 percent is 1.71 times less risky than Weyco. It trades about -0.01 of its potential returns per unit of risk. Weyco Group is currently generating about -0.23 per unit of risk. If you would invest 9,916 in KROGER 35 percent on September 12, 2024 and sell it today you would lose (41.00) from holding KROGER 35 percent or give up 0.41% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
KROGER 35 percent vs. Weyco Group
Performance |
| Timeline |
| KROGER 35 percent |
| Weyco Group |
KROGER and Weyco Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KROGER and Weyco
The main advantage of trading using opposite KROGER and Weyco positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KROGER position performs unexpectedly, Weyco 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 Weyco will offset losses from the drop in Weyco's long position.| KROGER vs. AEP TEX INC | KROGER vs. US BANK NATIONAL | KROGER vs. Applied Blockchain | KROGER vs. BigBearai Holdings |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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