Correlation Between Exxon and KROGER
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By analyzing existing cross correlation between Exxon Mobil Corp and KROGER 37 percent, you can compare the effects of market volatilities on Exxon and KROGER 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 Exxon with a short position of KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Exxon and KROGER.
Diversification Opportunities for Exxon and KROGER
Pay attention - limited upside
The 3 months correlation between Exxon and KROGER is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Exxon Mobil Corp and KROGER 37 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER 37 percent and Exxon 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 Exxon Mobil Corp are associated (or correlated) with KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER 37 percent has no effect on the direction of Exxon i.e., Exxon and KROGER go up and down completely randomly.
Pair Corralation between Exxon and KROGER
If you would invest 9,759 in Exxon Mobil Corp on September 3, 2024 and sell it today you would earn a total of 2,037 from holding Exxon Mobil Corp or generate 20.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Exxon Mobil Corp vs. KROGER 37 percent
Performance |
| Timeline |
| Exxon Mobil Corp |
| KROGER 37 percent |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Exxon and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Exxon and KROGER
The main advantage of trading using opposite Exxon and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Exxon position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.The idea behind Exxon Mobil Corp and KROGER 37 percent pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| KROGER vs. Sligro Food Group | KROGER vs. Fevertree Drinks Plc | KROGER vs. National Beverage Corp | KROGER vs. Fomento Economico Mexicano |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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