Correlation Between CRAWFORD + and AGRICULTBK HADR/25

Can any of the company-specific risk be diversified away by investing in both CRAWFORD + and AGRICULTBK HADR/25 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 CRAWFORD + and AGRICULTBK HADR/25 into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between CRAWFORD A NV and AGRICULTBK HADR25 YC, you can compare the effects of market volatilities on CRAWFORD + and AGRICULTBK HADR/25 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 CRAWFORD + with a short position of AGRICULTBK HADR/25. Check out your portfolio center. Please also check ongoing floating volatility patterns of CRAWFORD + and AGRICULTBK HADR/25.

Diversification Opportunities for CRAWFORD + and AGRICULTBK HADR/25

0.0

Correlation Coefficient

CRAWFORD +  AGRICULTBK HADR/25

Pay attention - limited upside

The 3 months correlation between CRAWFORD and AGRICULTBK is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CRAWFORD A NV and AGRICULTBK HADR25 YC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGRICULTBK HADR/25 and CRAWFORD + 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 CRAWFORD A NV are associated (or correlated) with AGRICULTBK HADR/25. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGRICULTBK HADR/25 has no effect on the direction of CRAWFORD + i.e., CRAWFORD + and AGRICULTBK HADR/25 go up and down completely randomly.

Pair Corralation between CRAWFORD + and AGRICULTBK HADR/25

If you would invest  1,152  in AGRICULTBK HADR25 YC on October 6, 2024 and sell it today you would earn a total of  58.00  from holding AGRICULTBK HADR25 YC or generate 5.03% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	5.88%
Values	Daily Returns

CRAWFORD A NV  vs.  AGRICULTBK HADR25 YC

CRAWFORD A NV

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days CRAWFORD A NV has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable forward-looking signals, CRAWFORD + is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

AGRICULTBK HADR/25

Risk-Adjusted Performance

10 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in AGRICULTBK HADR25 YC are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, AGRICULTBK HADR/25 reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with CRAWFORD + and AGRICULTBK HADR/25

The main advantage of trading using opposite CRAWFORD + and AGRICULTBK HADR/25 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CRAWFORD + position performs unexpectedly, AGRICULTBK HADR/25 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 AGRICULTBK HADR/25 will offset losses from the drop in AGRICULTBK HADR/25's long position.

The idea behind CRAWFORD A NV and AGRICULTBK HADR25 YC 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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.