Correlation Between Blue Apron and MOGU
Can any of the company-specific risk be diversified away by investing in both Blue Apron and MOGU 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 Blue Apron and MOGU into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blue Apron Holdings, and MOGU Inc, you can compare the effects of market volatilities on Blue Apron and MOGU 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 Blue Apron with a short position of MOGU. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blue Apron and MOGU.
Diversification Opportunities for Blue Apron and MOGU
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Blue and MOGU is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Blue Apron Holdings, and MOGU Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MOGU Inc and Blue Apron 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 Blue Apron Holdings, are associated (or correlated) with MOGU. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MOGU Inc has no effect on the direction of Blue Apron i.e., Blue Apron and MOGU go up and down completely randomly.
Pair Corralation between Blue Apron and MOGU
If you would invest 210.00 in MOGU Inc on December 27, 2024 and sell it today you would earn a total of 17.00 from holding MOGU Inc or generate 8.1% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Blue Apron Holdings, vs. MOGU Inc
Performance |
Timeline |
Blue Apron Holdings, |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
MOGU Inc |
Blue Apron and MOGU Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Blue Apron and MOGU
The main advantage of trading using opposite Blue Apron and MOGU positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blue Apron position performs unexpectedly, MOGU 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 MOGU will offset losses from the drop in MOGU's long position.Blue Apron vs. Hour Loop | Blue Apron vs. Wayfair | Blue Apron vs. Oriental Culture Holding | Blue Apron vs. Yunji Inc |
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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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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