Correlation Between Aier Eye and Addus HomeCare
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By analyzing existing cross correlation between Aier Eye Hospital and Addus HomeCare, you can compare the effects of market volatilities on Aier Eye and Addus HomeCare 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 Aier Eye with a short position of Addus HomeCare. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aier Eye and Addus HomeCare.
Diversification Opportunities for Aier Eye and Addus HomeCare
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Aier and Addus is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Aier Eye Hospital and Addus HomeCare in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Addus HomeCare and Aier Eye 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 Aier Eye Hospital are associated (or correlated) with Addus HomeCare. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Addus HomeCare has no effect on the direction of Aier Eye i.e., Aier Eye and Addus HomeCare go up and down completely randomly.
Pair Corralation between Aier Eye and Addus HomeCare
Assuming the 90 days trading horizon Aier Eye Hospital is expected to under-perform the Addus HomeCare. But the stock apears to be less risky and, when comparing its historical volatility, Aier Eye Hospital is 1.33 times less risky than Addus HomeCare. The stock trades about -0.04 of its potential returns per unit of risk. The Addus HomeCare is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 11,386 in Addus HomeCare on August 14, 2025 and sell it today you would lose (16.00) from holding Addus HomeCare or give up 0.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.63% |
| Values | Daily Returns |
Aier Eye Hospital vs. Addus HomeCare
Performance |
| Timeline |
| Aier Eye Hospital |
| Addus HomeCare |
Aier Eye and Addus HomeCare Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aier Eye and Addus HomeCare
The main advantage of trading using opposite Aier Eye and Addus HomeCare positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aier Eye position performs unexpectedly, Addus HomeCare 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 Addus HomeCare will offset losses from the drop in Addus HomeCare's long position.| Aier Eye vs. Daoming OpticsChemical Co | Aier Eye vs. Hengli Petrochemical Co | Aier Eye vs. FSPG Hi Tech Co | Aier Eye vs. Guangdong Shenglu Telecommunication |
| Addus HomeCare vs. National HealthCare | Addus HomeCare vs. Brookdale Senior Living | Addus HomeCare vs. Ardent Health Partners, | Addus HomeCare vs. Aveanna Healthcare Holdings |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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