Correlation Between Visa and My Foodie
Can any of the company-specific risk be diversified away by investing in both Visa and My Foodie at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Visa and My Foodie into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Visa Class A and My Foodie Box, you can compare the effects of market volatilities on Visa and My Foodie 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 Visa with a short position of My Foodie. Check out your portfolio center. Please also check ongoing floating volatility patterns of Visa and My Foodie.
Diversification Opportunities for Visa and My Foodie
Pay attention - limited upside
The 3 months correlation between Visa and MBX is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Visa Class A and My Foodie Box in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on My Foodie Box and Visa 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 Visa Class A are associated (or correlated) with My Foodie. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of My Foodie Box has no effect on the direction of Visa i.e., Visa and My Foodie go up and down completely randomly.
Pair Corralation between Visa and My Foodie
If you would invest 31,251 in Visa Class A on January 5, 2025 and sell it today you would earn a total of 62.00 from holding Visa Class A or generate 0.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.88% |
| Values | Daily Returns |
Visa Class A vs. My Foodie Box
Performance |
| Timeline |
| Visa Class A |
| My Foodie Box |
Visa and My Foodie Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Visa and My Foodie
The main advantage of trading using opposite Visa and My Foodie positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Visa position performs unexpectedly, My Foodie 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 My Foodie will offset losses from the drop in My Foodie's long position.| Visa vs. American Express | Visa vs. PayPal Holdings | Visa vs. Capital One Financial | Visa vs. Upstart Holdings |
| My Foodie vs. Finexia Financial Group | My Foodie vs. Latitude Financial Services | My Foodie vs. Liberty Financial Group | My Foodie vs. Qbe Insurance Group |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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