Correlation Between Andersons and Edgewell Personal
Can any of the company-specific risk be diversified away by investing in both Andersons and Edgewell Personal 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 Andersons and Edgewell Personal into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between The Andersons and Edgewell Personal Care, you can compare the effects of market volatilities on Andersons and Edgewell Personal 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 Andersons with a short position of Edgewell Personal. Check out your portfolio center. Please also check ongoing floating volatility patterns of Andersons and Edgewell Personal.
Diversification Opportunities for Andersons and Edgewell Personal
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Andersons and Edgewell is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding The Andersons and Edgewell Personal Care in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Edgewell Personal Care and Andersons 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 The Andersons are associated (or correlated) with Edgewell Personal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Edgewell Personal Care has no effect on the direction of Andersons i.e., Andersons and Edgewell Personal go up and down completely randomly.
Pair Corralation between Andersons and Edgewell Personal
Given the investment horizon of 90 days The Andersons is expected to generate 1.46 times more return on investment than Edgewell Personal. However, Andersons is 1.46 times more volatile than Edgewell Personal Care. It trades about 0.19 of its potential returns per unit of risk. Edgewell Personal Care is currently generating about -0.22 per unit of risk. If you would invest 4,005 in The Andersons on August 13, 2025 and sell it today you would earn a total of 1,143 from holding The Andersons or generate 28.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
The Andersons vs. Edgewell Personal Care
Performance |
| Timeline |
| Andersons |
| Edgewell Personal Care |
Andersons and Edgewell Personal Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Andersons and Edgewell Personal
The main advantage of trading using opposite Andersons and Edgewell Personal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Andersons position performs unexpectedly, Edgewell Personal 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 Edgewell Personal will offset losses from the drop in Edgewell Personal's long position.| Andersons vs. Tootsie Roll Industries | Andersons vs. J J Snack | Andersons vs. Weis Markets | Andersons vs. Universal Technical Institute |
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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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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