Correlation Between XSpring Capital and Moshi Moshi
Can any of the company-specific risk be diversified away by investing in both XSpring Capital and Moshi Moshi 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 XSpring Capital and Moshi Moshi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between XSpring Capital Public and Moshi Moshi Retail, you can compare the effects of market volatilities on XSpring Capital and Moshi Moshi 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 XSpring Capital with a short position of Moshi Moshi. Check out your portfolio center. Please also check ongoing floating volatility patterns of XSpring Capital and Moshi Moshi.
Diversification Opportunities for XSpring Capital and Moshi Moshi
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between XSpring and Moshi is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding XSpring Capital Public and Moshi Moshi Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moshi Moshi Retail and XSpring Capital 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 XSpring Capital Public are associated (or correlated) with Moshi Moshi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moshi Moshi Retail has no effect on the direction of XSpring Capital i.e., XSpring Capital and Moshi Moshi go up and down completely randomly.
Pair Corralation between XSpring Capital and Moshi Moshi
Assuming the 90 days trading horizon XSpring Capital Public is expected to under-perform the Moshi Moshi. But the stock apears to be less risky and, when comparing its historical volatility, XSpring Capital Public is 11.86 times less risky than Moshi Moshi. The stock trades about -0.01 of its potential returns per unit of risk. The Moshi Moshi Retail is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 2,867 in Moshi Moshi Retail on September 3, 2024 and sell it today you would earn a total of 1,808 from holding Moshi Moshi Retail or generate 63.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.55% |
| Values | Daily Returns |
XSpring Capital Public vs. Moshi Moshi Retail
Performance |
| Timeline |
| XSpring Capital Public |
| Moshi Moshi Retail |
XSpring Capital and Moshi Moshi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with XSpring Capital and Moshi Moshi
The main advantage of trading using opposite XSpring Capital and Moshi Moshi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if XSpring Capital position performs unexpectedly, Moshi Moshi 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 Moshi Moshi will offset losses from the drop in Moshi Moshi's long position.| XSpring Capital vs. TMBThanachart Bank Public | XSpring Capital vs. Ngern Tid Lor | XSpring Capital vs. Jay Mart Public | XSpring Capital vs. Sri Trang Gloves |
| Moshi Moshi vs. Central Retail | Moshi Moshi vs. The Erawan Group | Moshi Moshi vs. Autocorp Holding Public | Moshi Moshi vs. XSpring Capital Public |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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