Correlation Between Walker Dunlop and Haoxi Health
Can any of the company-specific risk be diversified away by investing in both Walker Dunlop and Haoxi Health 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 Walker Dunlop and Haoxi Health into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Walker Dunlop and Haoxi Health Technology, you can compare the effects of market volatilities on Walker Dunlop and Haoxi Health 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 Walker Dunlop with a short position of Haoxi Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Haoxi Health.
Diversification Opportunities for Walker Dunlop and Haoxi Health
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Walker and Haoxi is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Haoxi Health Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Haoxi Health Technology and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with Haoxi Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Haoxi Health Technology has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Haoxi Health go up and down completely randomly.
Pair Corralation between Walker Dunlop and Haoxi Health
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.15 times more return on investment than Haoxi Health. However, Walker Dunlop is 6.51 times less risky than Haoxi Health. It trades about 0.09 of its potential returns per unit of risk. Haoxi Health Technology is currently generating about -0.14 per unit of risk. If you would invest 9,078 in Walker Dunlop on August 27, 2024 and sell it today you would earn a total of 1,771 from holding Walker Dunlop or generate 19.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Walker Dunlop vs. Haoxi Health Technology
Performance |
| Timeline |
| Walker Dunlop |
| Haoxi Health Technology |
Walker Dunlop and Haoxi Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Haoxi Health
The main advantage of trading using opposite Walker Dunlop and Haoxi Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Haoxi Health 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 Haoxi Health will offset losses from the drop in Haoxi Health's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| Haoxi Health vs. CuriosityStream | Haoxi Health vs. iQIYI Inc | Haoxi Health vs. Sea | Haoxi Health vs. Scienjoy Holding Corp |
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 Stocks Directory module to find actively traded stocks across global markets.
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