Correlation Between Village Super and MGMCHI
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By analyzing existing cross correlation between Village Super Market and MGMCHI 475 01 FEB 27, you can compare the effects of market volatilities on Village Super and MGMCHI 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 Village Super with a short position of MGMCHI. Check out your portfolio center. Please also check ongoing floating volatility patterns of Village Super and MGMCHI.
Diversification Opportunities for Village Super and MGMCHI
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Village and MGMCHI is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Village Super Market and MGMCHI 475 01 FEB 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MGMCHI 475 01 and Village Super 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 Village Super Market are associated (or correlated) with MGMCHI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MGMCHI 475 01 has no effect on the direction of Village Super i.e., Village Super and MGMCHI go up and down completely randomly.
Pair Corralation between Village Super and MGMCHI
Assuming the 90 days horizon Village Super Market is expected to generate 2.55 times more return on investment than MGMCHI. However, Village Super is 2.55 times more volatile than MGMCHI 475 01 FEB 27. It trades about 0.02 of its potential returns per unit of risk. MGMCHI 475 01 FEB 27 is currently generating about -0.14 per unit of risk. If you would invest 3,177 in Village Super Market on September 12, 2024 and sell it today you would earn a total of 51.00 from holding Village Super Market or generate 1.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 62.5% |
| Values | Daily Returns |
Village Super Market vs. MGMCHI 475 01 FEB 27
Performance |
| Timeline |
| Village Super Market |
| MGMCHI 475 01 |
Village Super and MGMCHI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Village Super and MGMCHI
The main advantage of trading using opposite Village Super and MGMCHI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Village Super position performs unexpectedly, MGMCHI 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 MGMCHI will offset losses from the drop in MGMCHI's long position.| Village Super vs. Ingles Markets Incorporated | Village Super vs. Natural Grocers by | Village Super vs. Grocery Outlet Holding | Village Super vs. Weis Markets |
| MGMCHI vs. Old Republic International | MGMCHI vs. Emerson Radio | MGMCHI vs. Summit Environmental | MGMCHI vs. Sonos Inc |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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