Correlation Between H2O Retailing and Pacific Online

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Can any of the company-specific risk be diversified away by investing in both H2O Retailing and Pacific Online 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 H2O Retailing and Pacific Online into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between H2O Retailing and Pacific Online Limited, you can compare the effects of market volatilities on H2O Retailing and Pacific Online 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 H2O Retailing with a short position of Pacific Online. Check out your portfolio center. Please also check ongoing floating volatility patterns of H2O Retailing and Pacific Online.

Diversification Opportunities for H2O Retailing and Pacific Online

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between H2O and Pacific is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding H2O Retailing and Pacific Online Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pacific Online and H2O Retailing 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 H2O Retailing are associated (or correlated) with Pacific Online. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pacific Online has no effect on the direction of H2O Retailing i.e., H2O Retailing and Pacific Online go up and down completely randomly.

Pair Corralation between H2O Retailing and Pacific Online

If you would invest  971.00  in H2O Retailing on September 4, 2025 and sell it today you would earn a total of  29.00  from holding H2O Retailing or generate 2.99% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy98.44%
ValuesDaily Returns

H2O Retailing  vs.  Pacific Online Limited

 Performance 
       Timeline  
H2O Retailing 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in H2O Retailing are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable fundamental indicators, H2O Retailing is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.
Pacific Online 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days Pacific Online Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable essential indicators, Pacific Online is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

H2O Retailing and Pacific Online Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with H2O Retailing and Pacific Online

The main advantage of trading using opposite H2O Retailing and Pacific Online positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if H2O Retailing position performs unexpectedly, Pacific Online 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 Pacific Online will offset losses from the drop in Pacific Online's long position.
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The idea behind H2O Retailing and Pacific Online Limited 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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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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.

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