Correlation Between AW Revenue and Just Kitchen
Can any of the company-specific risk be diversified away by investing in both AW Revenue and Just Kitchen 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 AW Revenue and Just Kitchen into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AW Revenue Royalties and Just Kitchen Holdings, you can compare the effects of market volatilities on AW Revenue and Just Kitchen 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 AW Revenue with a short position of Just Kitchen. Check out your portfolio center. Please also check ongoing floating volatility patterns of AW Revenue and Just Kitchen.
Diversification Opportunities for AW Revenue and Just Kitchen
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AWRRF and Just is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AW Revenue Royalties and Just Kitchen Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Just Kitchen Holdings and AW Revenue 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 AW Revenue Royalties are associated (or correlated) with Just Kitchen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Just Kitchen Holdings has no effect on the direction of AW Revenue i.e., AW Revenue and Just Kitchen go up and down completely randomly.
Pair Corralation between AW Revenue and Just Kitchen
If you would invest (100.00) in Just Kitchen Holdings on December 2, 2024 and sell it today you would earn a total of 100.00 from holding Just Kitchen Holdings 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 |
AW Revenue Royalties vs. Just Kitchen Holdings
Performance |
Timeline |
AW Revenue Royalties |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Just Kitchen Holdings |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
AW Revenue and Just Kitchen Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with AW Revenue and Just Kitchen
The main advantage of trading using opposite AW Revenue and Just Kitchen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AW Revenue position performs unexpectedly, Just Kitchen 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 Just Kitchen will offset losses from the drop in Just Kitchen's long position.AW Revenue vs. Acumen Pharmaceuticals | AW Revenue vs. Molecular Partners AG | AW Revenue vs. Broadstone Net Lease | AW Revenue vs. China Aircraft Leasing |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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