Correlation Between Conifer Holding and Wilhelmina

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

By analyzing existing cross correlation between Conifer Holding and Wilhelmina, you can compare the effects of market volatilities on Conifer Holding and Wilhelmina 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 Conifer Holding with a short position of Wilhelmina. Check out your portfolio center. Please also check ongoing floating volatility patterns of Conifer Holding and Wilhelmina.

Diversification Opportunities for Conifer Holding and Wilhelmina

0.0

Correlation Coefficient

Conifer Holding  Wilhelmina

Pay attention - limited upside

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

Pair Corralation between Conifer Holding and Wilhelmina

If you would invest (100.00) in Wilhelmina on December 30, 2024 and sell it today you would earn a total of  100.00  from holding Wilhelmina or generate -100.0% return on investment over 90 days.

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

Conifer Holding  vs.  Wilhelmina

Conifer Holding

Risk-Adjusted Performance

Very Weak

Over the last 90 days Conifer Holding has generated negative risk-adjusted returns adding no value to investors with long positions. Even with unfluctuating performance in the last few months, the Stock's technical and fundamental indicators remain relatively invariable which may send shares a bit higher in April 2025. The latest agitation may also be a sign of long-running up-swing for the enterprise retail investors.

Wilhelmina

Risk-Adjusted Performance

Very Weak

Over the last 90 days Wilhelmina has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy essential indicators, Wilhelmina is not utilizing all of its potentials. The newest stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with Conifer Holding and Wilhelmina

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

The idea behind Conifer Holding and Wilhelmina 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .