Correlation Between WSFS Financial and Network Media
Can any of the company-specific risk be diversified away by investing in both WSFS Financial and Network Media 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 WSFS Financial and Network Media into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WSFS Financial and Network Media Group, you can compare the effects of market volatilities on WSFS Financial and Network Media 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 WSFS Financial with a short position of Network Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of WSFS Financial and Network Media.
Diversification Opportunities for WSFS Financial and Network Media
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between WSFS and Network is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding WSFS Financial and Network Media Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Network Media Group and WSFS Financial 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 WSFS Financial are associated (or correlated) with Network Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Network Media Group has no effect on the direction of WSFS Financial i.e., WSFS Financial and Network Media go up and down completely randomly.
Pair Corralation between WSFS Financial and Network Media
Given the investment horizon of 90 days WSFS Financial is expected to generate 74.4 times less return on investment than Network Media. But when comparing it to its historical volatility, WSFS Financial is 5.53 times less risky than Network Media. It trades about 0.0 of its potential returns per unit of risk. Network Media Group is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 7.44 in Network Media Group on October 17, 2025 and sell it today you would lose (0.20) from holding Network Media Group or give up 2.69% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
WSFS Financial vs. Network Media Group
Performance |
| Timeline |
| WSFS Financial |
| Network Media Group |
WSFS Financial and Network Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WSFS Financial and Network Media
The main advantage of trading using opposite WSFS Financial and Network Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WSFS Financial position performs unexpectedly, Network Media 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 Network Media will offset losses from the drop in Network Media's long position.| WSFS Financial vs. First Financial Bancorp | WSFS Financial vs. Provident Financial Services | WSFS Financial vs. Washington Federal | WSFS Financial vs. Banner |
| Network Media vs. HeadsUp Entertainment International | Network Media vs. Big Screen Entertainment | Network Media vs. Farmhouse | Network Media vs. Legible |
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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