Correlation Between RAYTHEON and Hf Foods
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By analyzing existing cross correlation between RAYTHEON TECHNOLOGIES PORATION and Hf Foods Group, you can compare the effects of market volatilities on RAYTHEON 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 RAYTHEON with a short position of Hf Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of RAYTHEON and Hf Foods.
Diversification Opportunities for RAYTHEON and Hf Foods
Very good diversification
The 3 months correlation between RAYTHEON and HFFG is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding RAYTHEON TECHNOLOGIES PORATION 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 RAYTHEON 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 RAYTHEON TECHNOLOGIES PORATION 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 RAYTHEON i.e., RAYTHEON and Hf Foods go up and down completely randomly.
Pair Corralation between RAYTHEON and Hf Foods
Assuming the 90 days trading horizon RAYTHEON TECHNOLOGIES PORATION is expected to generate 0.86 times more return on investment than Hf Foods. However, RAYTHEON TECHNOLOGIES PORATION is 1.16 times less risky than Hf Foods. It trades about 0.08 of its potential returns per unit of risk. Hf Foods Group is currently generating about -0.13 per unit of risk. If you would invest 6,355 in RAYTHEON TECHNOLOGIES PORATION on September 26, 2024 and sell it today you would earn a total of 213.00 from holding RAYTHEON TECHNOLOGIES PORATION or generate 3.35% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
RAYTHEON TECHNOLOGIES PORATION vs. Hf Foods Group
Performance |
Timeline |
RAYTHEON TECHNOLOGIES |
Hf Foods Group |
RAYTHEON and Hf Foods Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with RAYTHEON and Hf Foods
The main advantage of trading using opposite RAYTHEON and Hf Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RAYTHEON 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.RAYTHEON vs. Hf Foods Group | RAYTHEON vs. Vita Coco | RAYTHEON vs. The Coca Cola | RAYTHEON vs. Molson Coors Brewing |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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