Correlation Between ANTA Sports and Fair Isaac
Can any of the company-specific risk be diversified away by investing in both ANTA Sports and Fair Isaac 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 ANTA Sports and Fair Isaac into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ANTA Sports Products and Fair Isaac Corp, you can compare the effects of market volatilities on ANTA Sports and Fair Isaac 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 ANTA Sports with a short position of Fair Isaac. Check out your portfolio center. Please also check ongoing floating volatility patterns of ANTA Sports and Fair Isaac.
Diversification Opportunities for ANTA Sports and Fair Isaac
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between ANTA and Fair is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding ANTA Sports Products and Fair Isaac Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fair Isaac Corp and ANTA Sports 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 ANTA Sports Products are associated (or correlated) with Fair Isaac. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fair Isaac Corp has no effect on the direction of ANTA Sports i.e., ANTA Sports and Fair Isaac go up and down completely randomly.
Pair Corralation between ANTA Sports and Fair Isaac
Assuming the 90 days trading horizon ANTA Sports Products is expected to generate 0.89 times more return on investment than Fair Isaac. However, ANTA Sports Products is 1.12 times less risky than Fair Isaac. It trades about 0.09 of its potential returns per unit of risk. Fair Isaac Corp is currently generating about -0.1 per unit of risk. If you would invest 982.00 in ANTA Sports Products on December 21, 2024 and sell it today you would earn a total of 106.00 from holding ANTA Sports Products or generate 10.79% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 98.33% |
Values | Daily Returns |
ANTA Sports Products vs. Fair Isaac Corp
Performance |
Timeline |
ANTA Sports Products |
Fair Isaac Corp |
ANTA Sports and Fair Isaac Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with ANTA Sports and Fair Isaac
The main advantage of trading using opposite ANTA Sports and Fair Isaac positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ANTA Sports position performs unexpectedly, Fair Isaac 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 Fair Isaac will offset losses from the drop in Fair Isaac's long position.ANTA Sports vs. MAVEN WIRELESS SWEDEN | ANTA Sports vs. SBA Communications Corp | ANTA Sports vs. GEAR4MUSIC LS 10 | ANTA Sports vs. Singapore Telecommunications Limited |
Fair Isaac vs. Mitsubishi Materials | Fair Isaac vs. Geely Automobile Holdings | Fair Isaac vs. TOMBADOR IRON LTD | Fair Isaac vs. ANGANG STEEL H |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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