Correlation Between Fitell Ordinary and Cheetah Net
Can any of the company-specific risk be diversified away by investing in both Fitell Ordinary and Cheetah Net 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 Fitell Ordinary and Cheetah Net into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fitell Ordinary and Cheetah Net Supply, you can compare the effects of market volatilities on Fitell Ordinary and Cheetah Net 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 Fitell Ordinary with a short position of Cheetah Net. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fitell Ordinary and Cheetah Net.
Diversification Opportunities for Fitell Ordinary and Cheetah Net
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Fitell and Cheetah is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Fitell Ordinary and Cheetah Net Supply in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cheetah Net Supply and Fitell Ordinary 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 Fitell Ordinary are associated (or correlated) with Cheetah Net. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cheetah Net Supply has no effect on the direction of Fitell Ordinary i.e., Fitell Ordinary and Cheetah Net go up and down completely randomly.
Pair Corralation between Fitell Ordinary and Cheetah Net
Given the investment horizon of 90 days Fitell Ordinary is expected to under-perform the Cheetah Net. In addition to that, Fitell Ordinary is 3.3 times more volatile than Cheetah Net Supply. It trades about -0.2 of its total potential returns per unit of risk. Cheetah Net Supply is currently generating about -0.05 per unit of volatility. If you would invest 169.00 in Cheetah Net Supply on September 5, 2025 and sell it today you would lose (26.00) from holding Cheetah Net Supply or give up 15.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fitell Ordinary vs. Cheetah Net Supply
Performance |
| Timeline |
| Fitell Ordinary |
| Cheetah Net Supply |
Fitell Ordinary and Cheetah Net Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fitell Ordinary and Cheetah Net
The main advantage of trading using opposite Fitell Ordinary and Cheetah Net positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fitell Ordinary position performs unexpectedly, Cheetah Net 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 Cheetah Net will offset losses from the drop in Cheetah Net's long position.| Fitell Ordinary vs. Orion Office Reit | Fitell Ordinary vs. Pintec Technology Holdings | Fitell Ordinary vs. BC Technology Group | Fitell Ordinary vs. Amkor Technology |
| Cheetah Net vs. HF Sinclair Corp | Cheetah Net vs. Air Lease | Cheetah Net vs. Westinghouse Air Brake | Cheetah Net vs. Norwegian Air Shuttle |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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