Correlation Between Clever Leaves and Harrow Health,

Can any of the company-specific risk be diversified away by investing in both Clever Leaves and Harrow Health, 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 Clever Leaves and Harrow Health, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Clever Leaves Holdings and Harrow Health, 11875, you can compare the effects of market volatilities on Clever Leaves and Harrow Health, 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 Clever Leaves with a short position of Harrow Health,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Clever Leaves and Harrow Health,.

Diversification Opportunities for Clever Leaves and Harrow Health,

0.0

Correlation Coefficient

Clever Leaves  Harrow Health,

Pay attention - limited upside

The 3 months correlation between Clever and Harrow is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Clever Leaves Holdings and Harrow Health, 11875 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harrow Health, 11875 and Clever Leaves 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 Clever Leaves Holdings are associated (or correlated) with Harrow Health,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harrow Health, 11875 has no effect on the direction of Clever Leaves i.e., Clever Leaves and Harrow Health, go up and down completely randomly.

Pair Corralation between Clever Leaves and Harrow Health,

If you would invest  2,519  in Harrow Health, 11875 on December 29, 2024 and sell it today you would earn a total of  170.00  from holding Harrow Health, 11875 or generate 6.75% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Clever Leaves Holdings  vs.  Harrow Health, 11875

Clever Leaves Holdings

Risk-Adjusted Performance

Very Weak

Over the last 90 days Clever Leaves Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, Clever Leaves is not utilizing all of its potentials. The latest stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Harrow Health, 11875

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Harrow Health, 11875 are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. In spite of very conflicting basic indicators, Harrow Health, may actually be approaching a critical reversion point that can send shares even higher in April 2025.

Pair Trading with Clever Leaves and Harrow Health,

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

The idea behind Clever Leaves Holdings and Harrow Health, 11875 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.

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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.