Correlation Between Winmark and Beyond,
Can any of the company-specific risk be diversified away by investing in both Winmark and Beyond, 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 Winmark and Beyond, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Winmark and Beyond,, you can compare the effects of market volatilities on Winmark and Beyond, 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 Winmark with a short position of Beyond,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Winmark and Beyond,.
Diversification Opportunities for Winmark and Beyond,
Pay attention - limited upside
The 3 months correlation between Winmark and Beyond, is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Winmark and Beyond, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beyond, and Winmark 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 Winmark are associated (or correlated) with Beyond,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beyond, has no effect on the direction of Winmark i.e., Winmark and Beyond, go up and down completely randomly.
Pair Corralation between Winmark and Beyond,
Given the investment horizon of 90 days Winmark is expected to generate 0.7 times more return on investment than Beyond,. However, Winmark is 1.43 times less risky than Beyond,. It trades about 0.22 of its potential returns per unit of risk. Beyond, is currently generating about -0.14 per unit of risk. If you would invest 37,364 in Winmark on August 30, 2024 and sell it today you would earn a total of 3,872 from holding Winmark or generate 10.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Winmark vs. Beyond,
Performance |
| Timeline |
| Winmark |
| Beyond, |
Winmark and Beyond, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Winmark and Beyond,
The main advantage of trading using opposite Winmark and Beyond, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Winmark position performs unexpectedly, Beyond, 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 Beyond, will offset losses from the drop in Beyond,'s long position.| Winmark vs. Mesa Laboratories | Winmark vs. Utah Medical Products | Winmark vs. Weyco Group | Winmark vs. Diamond Hill Investment |
| Beyond, vs. Weibo Corp | Beyond, vs. Radcom | Beyond, vs. Integral Ad Science | Beyond, vs. Cedar Realty Trust |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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