Correlation Between Genfit and Xiabuxiabu Catering

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Can any of the company-specific risk be diversified away by investing in both Genfit and Xiabuxiabu Catering 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 Genfit and Xiabuxiabu Catering into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Genfit and Xiabuxiabu Catering Management, you can compare the effects of market volatilities on Genfit and Xiabuxiabu Catering 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 Genfit with a short position of Xiabuxiabu Catering. Check out your portfolio center. Please also check ongoing floating volatility patterns of Genfit and Xiabuxiabu Catering.

Diversification Opportunities for Genfit and Xiabuxiabu Catering

GenfitXiabuxiabuDiversified AwayGenfitXiabuxiabuDiversified Away100%
0.08
  Correlation Coefficient

Significant diversification

The 3 months correlation between Genfit and Xiabuxiabu is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Genfit and Xiabuxiabu Catering Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiabuxiabu Catering and Genfit 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 Genfit are associated (or correlated) with Xiabuxiabu Catering. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiabuxiabu Catering has no effect on the direction of Genfit i.e., Genfit and Xiabuxiabu Catering go up and down completely randomly.

Pair Corralation between Genfit and Xiabuxiabu Catering

Given the investment horizon of 90 days Genfit is expected to under-perform the Xiabuxiabu Catering. In addition to that, Genfit is 3.81 times more volatile than Xiabuxiabu Catering Management. It trades about -0.17 of its total potential returns per unit of risk. Xiabuxiabu Catering Management is currently generating about -0.13 per unit of volatility. If you would invest  15.00  in Xiabuxiabu Catering Management on October 7, 2024 and sell it today you would lose (1.00) from holding Xiabuxiabu Catering Management or give up 6.67% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Genfit  vs.  Xiabuxiabu Catering Management

 Performance 
JavaScript chart by amCharts 3.21.15OctNovDec -20-1001020
JavaScript chart by amCharts 3.21.15GNFT XIAXF
       Timeline  
Genfit 

Risk-Adjusted Performance

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Over the last 90 days Genfit has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's technical and fundamental indicators remain comparatively stable which may send shares a bit higher in February 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan44.555.566.5
Xiabuxiabu Catering 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Xiabuxiabu Catering Management has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest unsteady performance, the Stock's basic indicators remain stable and the current disturbance on Wall Street may also be a sign of long-run gains for the company stockholders.
JavaScript chart by amCharts 3.21.15NovDecJanDecJan0.140.1450.150.155

Genfit and Xiabuxiabu Catering Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-5.42-4.09-2.75-1.42-0.09031.092.263.434.65.77 0.10.20.30.40.5
JavaScript chart by amCharts 3.21.15GNFT XIAXF
       Returns  

Pair Trading with Genfit and Xiabuxiabu Catering

The main advantage of trading using opposite Genfit and Xiabuxiabu Catering positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genfit position performs unexpectedly, Xiabuxiabu Catering 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 Xiabuxiabu Catering will offset losses from the drop in Xiabuxiabu Catering's long position.
The idea behind Genfit and Xiabuxiabu Catering Management 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.

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