Correlation Between Oasis Hotel and Hf Foods
Can any of the company-specific risk be diversified away by investing in both Oasis Hotel and Hf Foods 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 Oasis Hotel and Hf Foods into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oasis Hotel Resort and Hf Foods Group, you can compare the effects of market volatilities on Oasis Hotel and Hf Foods 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 Oasis Hotel with a short position of Hf Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oasis Hotel and Hf Foods.
Diversification Opportunities for Oasis Hotel and Hf Foods
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Oasis and HFFG is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Oasis Hotel Resort and Hf Foods Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hf Foods Group and Oasis Hotel 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 Oasis Hotel Resort are associated (or correlated) with Hf Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hf Foods Group has no effect on the direction of Oasis Hotel i.e., Oasis Hotel and Hf Foods go up and down completely randomly.
Pair Corralation between Oasis Hotel and Hf Foods
If you would invest 337.00 in Hf Foods Group on September 18, 2024 and sell it today you would earn a total of 39.00 from holding Hf Foods Group or generate 11.57% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Oasis Hotel Resort vs. Hf Foods Group
Performance |
Timeline |
Oasis Hotel Resort |
Hf Foods Group |
Oasis Hotel and Hf Foods Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Oasis Hotel and Hf Foods
The main advantage of trading using opposite Oasis Hotel and Hf Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oasis Hotel position performs unexpectedly, Hf Foods 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 Hf Foods will offset losses from the drop in Hf Foods' long position.Oasis Hotel vs. Hf Foods Group | Oasis Hotel vs. Electronic Arts | Oasis Hotel vs. Marfrig Global Foods | Oasis Hotel vs. Bridgford Foods |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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