Correlation Between SLR Investment and EAT WELL
Can any of the company-specific risk be diversified away by investing in both SLR Investment and EAT WELL 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 SLR Investment and EAT WELL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SLR Investment Corp and EAT WELL INVESTMENT, you can compare the effects of market volatilities on SLR Investment and EAT WELL 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 SLR Investment with a short position of EAT WELL. Check out your portfolio center. Please also check ongoing floating volatility patterns of SLR Investment and EAT WELL.
Diversification Opportunities for SLR Investment and EAT WELL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SLR and EAT is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SLR Investment Corp and EAT WELL INVESTMENT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EAT WELL INVESTMENT and SLR Investment 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 SLR Investment Corp are associated (or correlated) with EAT WELL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EAT WELL INVESTMENT has no effect on the direction of SLR Investment i.e., SLR Investment and EAT WELL go up and down completely randomly.
Pair Corralation between SLR Investment and EAT WELL
If you would invest 1,355 in SLR Investment Corp on August 29, 2024 and sell it today you would earn a total of 234.00 from holding SLR Investment Corp or generate 17.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SLR Investment Corp vs. EAT WELL INVESTMENT
Performance |
| Timeline |
| SLR Investment Corp |
| EAT WELL INVESTMENT |
SLR Investment and EAT WELL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SLR Investment and EAT WELL
The main advantage of trading using opposite SLR Investment and EAT WELL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SLR Investment position performs unexpectedly, EAT WELL 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 EAT WELL will offset losses from the drop in EAT WELL's long position.| SLR Investment vs. Axcelis Technologies | SLR Investment vs. SOFI TECHNOLOGIES | SLR Investment vs. Data3 Limited | SLR Investment vs. INFORMATION SVC GRP |
| EAT WELL vs. Perseus Mining Limited | EAT WELL vs. NISSIN FOODS HLDGS | EAT WELL vs. LIFEWAY FOODS | EAT WELL vs. Lifeway Foods |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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