Correlation Between FIDSON HEALTHCARE and MULTI TREX

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Can any of the company-specific risk be diversified away by investing in both FIDSON HEALTHCARE and MULTI TREX 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 FIDSON HEALTHCARE and MULTI TREX into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FIDSON HEALTHCARE PLC and MULTI TREX INTEGRATED FOODS, you can compare the effects of market volatilities on FIDSON HEALTHCARE and MULTI TREX 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 FIDSON HEALTHCARE with a short position of MULTI TREX. Check out your portfolio center. Please also check ongoing floating volatility patterns of FIDSON HEALTHCARE and MULTI TREX.

Diversification Opportunities for FIDSON HEALTHCARE and MULTI TREX

0.0
  Correlation Coefficient

Pay attention - limited upside

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

Pair Corralation between FIDSON HEALTHCARE and MULTI TREX

If you would invest  1,860  in FIDSON HEALTHCARE PLC on April 23, 2025 and sell it today you would earn a total of  2,750  from holding FIDSON HEALTHCARE PLC or generate 147.85% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

FIDSON HEALTHCARE PLC  vs.  MULTI TREX INTEGRATED FOODS

 Performance 
       Timeline  
FIDSON HEALTHCARE PLC 

Risk-Adjusted Performance

Very Strong

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in FIDSON HEALTHCARE PLC are ranked lower than 37 (%) of all global equities and portfolios over the last 90 days. Despite somewhat unsteady basic indicators, FIDSON HEALTHCARE sustained solid returns over the last few months and may actually be approaching a breakup point.
MULTI TREX INTEGRATED 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days MULTI TREX INTEGRATED FOODS has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable technical and fundamental indicators, MULTI TREX is not utilizing all of its potentials. The recent stock price agitation, may contribute to short-term losses for the retail investors.

FIDSON HEALTHCARE and MULTI TREX Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with FIDSON HEALTHCARE and MULTI TREX

The main advantage of trading using opposite FIDSON HEALTHCARE and MULTI TREX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FIDSON HEALTHCARE position performs unexpectedly, MULTI TREX 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 MULTI TREX will offset losses from the drop in MULTI TREX's long position.
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The idea behind FIDSON HEALTHCARE PLC and MULTI TREX INTEGRATED FOODS 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.

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