Correlation Between Xiabuxiabu Catering and SOUTHERN
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By analyzing existing cross correlation between Xiabuxiabu Catering Management and SOUTHERN CALIF EDISON, you can compare the effects of market volatilities on Xiabuxiabu Catering and SOUTHERN 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 Xiabuxiabu Catering with a short position of SOUTHERN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xiabuxiabu Catering and SOUTHERN.
Diversification Opportunities for Xiabuxiabu Catering and SOUTHERN
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Xiabuxiabu and SOUTHERN is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Xiabuxiabu Catering Management and SOUTHERN CALIF EDISON in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOUTHERN CALIF EDISON and Xiabuxiabu Catering 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 Xiabuxiabu Catering Management are associated (or correlated) with SOUTHERN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOUTHERN CALIF EDISON has no effect on the direction of Xiabuxiabu Catering i.e., Xiabuxiabu Catering and SOUTHERN go up and down completely randomly.
Pair Corralation between Xiabuxiabu Catering and SOUTHERN
Assuming the 90 days horizon Xiabuxiabu Catering Management is expected to under-perform the SOUTHERN. But the pink sheet apears to be less risky and, when comparing its historical volatility, Xiabuxiabu Catering Management is 13.07 times less risky than SOUTHERN. The pink sheet trades about -0.06 of its potential returns per unit of risk. The SOUTHERN CALIF EDISON is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 7,342 in SOUTHERN CALIF EDISON on September 12, 2024 and sell it today you would earn a total of 451.00 from holding SOUTHERN CALIF EDISON or generate 6.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 57.81% |
| Values | Daily Returns |
Xiabuxiabu Catering Management vs. SOUTHERN CALIF EDISON
Performance |
| Timeline |
| Xiabuxiabu Catering |
| SOUTHERN CALIF EDISON |
Xiabuxiabu Catering and SOUTHERN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xiabuxiabu Catering and SOUTHERN
The main advantage of trading using opposite Xiabuxiabu Catering and SOUTHERN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xiabuxiabu Catering position performs unexpectedly, SOUTHERN 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 SOUTHERN will offset losses from the drop in SOUTHERN's long position.| Xiabuxiabu Catering vs. Jollibee Foods Corp | Xiabuxiabu Catering vs. Nathans Famous | Xiabuxiabu Catering vs. Good Times Restaurants | Xiabuxiabu Catering vs. Compass Group PLC |
| SOUTHERN vs. Bank of New | SOUTHERN vs. Village Super Market | SOUTHERN vs. Logan Ridge Finance | SOUTHERN vs. Xiabuxiabu Catering Management |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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