Correlation Between All For and Eline Entertainment

Can any of the company-specific risk be diversified away by investing in both All For and Eline Entertainment 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 All For and Eline Entertainment into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between All For One and Eline Entertainment Group, you can compare the effects of market volatilities on All For and Eline Entertainment 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 All For with a short position of Eline Entertainment. Check out your portfolio center. Please also check ongoing floating volatility patterns of All For and Eline Entertainment.

Diversification Opportunities for All For and Eline Entertainment

0.0

Correlation Coefficient

All For  Eline Entertainment

Pay attention - limited upside

The 3 months correlation between All and Eline is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding All For One and Eline Entertainment Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eline Entertainment and All For 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 All For One are associated (or correlated) with Eline Entertainment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eline Entertainment has no effect on the direction of All For i.e., All For and Eline Entertainment go up and down completely randomly.

Pair Corralation between All For and Eline Entertainment

Given the investment horizon of 90 days All For One is expected to under-perform the Eline Entertainment. But the pink sheet apears to be less risky and, when comparing its historical volatility, All For One is 3.31 times less risky than Eline Entertainment. The pink sheet trades about -0.13 of its potential returns per unit of risk. The Eline Entertainment Group is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest  0.01  in Eline Entertainment Group on September 12, 2024 and sell it today you would earn a total of  0.01  from holding Eline Entertainment Group or generate 100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

All For One  vs.  Eline Entertainment Group

All For One

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days All For One has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of abnormal performance in the last few months, the Stock's basic indicators remain very healthy which may send shares a bit higher in January 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

Eline Entertainment

Risk-Adjusted Performance

14 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Eline Entertainment Group are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. Despite fairly uncertain technical and fundamental indicators, Eline Entertainment demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with All For and Eline Entertainment

The main advantage of trading using opposite All For and Eline Entertainment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if All For position performs unexpectedly, Eline Entertainment 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 Eline Entertainment will offset losses from the drop in Eline Entertainment's long position.

The idea behind All For One and Eline Entertainment Group 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.

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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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.