Correlation Between Endeavour Group and China Feihe
Can any of the company-specific risk be diversified away by investing in both Endeavour Group and China Feihe 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 Endeavour Group and China Feihe into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Endeavour Group Limited and China Feihe Limited, you can compare the effects of market volatilities on Endeavour Group and China Feihe 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 Endeavour Group with a short position of China Feihe. Check out your portfolio center. Please also check ongoing floating volatility patterns of Endeavour Group and China Feihe.
Diversification Opportunities for Endeavour Group and China Feihe
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Endeavour and China is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Endeavour Group Limited and China Feihe Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Feihe Limited and Endeavour 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 Endeavour Group Limited are associated (or correlated) with China Feihe. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Feihe Limited has no effect on the direction of Endeavour Group i.e., Endeavour Group and China Feihe go up and down completely randomly.
Pair Corralation between Endeavour Group and China Feihe
If you would invest 215.00 in Endeavour Group Limited on August 20, 2025 and sell it today you would earn a total of 16.00 from holding Endeavour Group Limited or generate 7.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Endeavour Group Limited vs. China Feihe Limited
Performance |
| Timeline |
| Endeavour Group |
| China Feihe Limited |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Endeavour Group and China Feihe Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Endeavour Group and China Feihe
The main advantage of trading using opposite Endeavour Group and China Feihe positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Endeavour Group position performs unexpectedly, China Feihe 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 China Feihe will offset losses from the drop in China Feihe's long position.| Endeavour Group vs. Treasury Wine Estates | Endeavour Group vs. Treasury Wine Estates | Endeavour Group vs. Hengan Intl Group | Endeavour Group vs. Becle SA de |
| China Feihe vs. Yamazaki Baking Co | China Feihe vs. Indofood Sukses Makmur | China Feihe vs. The a2 Milk | China Feihe vs. Nichirei |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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