Correlation Between Unifiedpost Group and Whitestone

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

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

Diversification Opportunities for Unifiedpost Group and Whitestone

0.0

Correlation Coefficient

Unifiedpost Group  Whitestone

Pay attention - limited upside

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

Pair Corralation between Unifiedpost Group and Whitestone

If you would invest (100.00) in Whitestone Group on October 25, 2024 and sell it today you would earn a total of  100.00  from holding Whitestone Group 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

Unifiedpost Group SA  vs.  Whitestone Group

Unifiedpost Group

Risk-Adjusted Performance

0 of 100

Very Weak

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

Whitestone Group

Risk-Adjusted Performance

0 of 100

Insignificant

Over the last 90 days Whitestone Group has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable basic indicators, Whitestone is not utilizing all of its potentials. The current stock price agitation, may contribute to short-term losses for the retail investors.

Pair Trading with Unifiedpost Group and Whitestone

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

The idea behind Unifiedpost Group SA and Whitestone Group 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 Transaction History module to view history of all your transactions and understand their impact on performance.