Correlation Between KROGER and WiMi Hologram
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By analyzing existing cross correlation between KROGER 465 percent and WiMi Hologram Cloud, you can compare the effects of market volatilities on KROGER and WiMi Hologram 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 WiMi Hologram. Check out your portfolio center. Please also check ongoing floating volatility patterns of KROGER and WiMi Hologram.
Diversification Opportunities for KROGER and WiMi Hologram
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between KROGER and WiMi is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding KROGER 465 percent and WiMi Hologram Cloud in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WiMi Hologram Cloud 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 465 percent are associated (or correlated) with WiMi Hologram. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WiMi Hologram Cloud has no effect on the direction of KROGER i.e., KROGER and WiMi Hologram go up and down completely randomly.
Pair Corralation between KROGER and WiMi Hologram
Assuming the 90 days trading horizon KROGER is expected to generate 16.15 times less return on investment than WiMi Hologram. But when comparing it to its historical volatility, KROGER 465 percent is 3.13 times less risky than WiMi Hologram. It trades about 0.01 of its potential returns per unit of risk. WiMi Hologram Cloud is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 107.00 in WiMi Hologram Cloud on September 3, 2024 and sell it today you would lose (24.00) from holding WiMi Hologram Cloud or give up 22.43% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 50.3% |
| Values | Daily Returns |
KROGER 465 percent vs. WiMi Hologram Cloud
Performance |
| Timeline |
| KROGER 465 percent |
| WiMi Hologram Cloud |
KROGER and WiMi Hologram Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KROGER and WiMi Hologram
The main advantage of trading using opposite KROGER and WiMi Hologram positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KROGER position performs unexpectedly, WiMi Hologram 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 WiMi Hologram will offset losses from the drop in WiMi Hologram's long position.| KROGER vs. NetEase | KROGER vs. Rave Restaurant Group | KROGER vs. The Cheesecake Factory | KROGER vs. The Wendys Co |
| WiMi Hologram vs. National CineMedia | WiMi Hologram vs. Baosheng Media Group | WiMi Hologram vs. Townsquare Media | WiMi Hologram vs. Dolphin Entertainment |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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