Correlation Between Retail Food and Addentax Group
Can any of the company-specific risk be diversified away by investing in both Retail Food and Addentax Group 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 Retail Food and Addentax Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Retail Food Group and Addentax Group Corp, you can compare the effects of market volatilities on Retail Food and Addentax Group 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 Retail Food with a short position of Addentax Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Retail Food and Addentax Group.
Diversification Opportunities for Retail Food and Addentax Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Retail and Addentax is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Retail Food Group and Addentax Group Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Addentax Group Corp and Retail Food 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 Retail Food Group are associated (or correlated) with Addentax Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Addentax Group Corp has no effect on the direction of Retail Food i.e., Retail Food and Addentax Group go up and down completely randomly.
Pair Corralation between Retail Food and Addentax Group
If you would invest 56.00 in Addentax Group Corp on August 29, 2025 and sell it today you would lose (9.00) from holding Addentax Group Corp or give up 16.07% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Retail Food Group vs. Addentax Group Corp
Performance |
| Timeline |
| Retail Food Group |
| Addentax Group Corp |
Retail Food and Addentax Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Retail Food and Addentax Group
The main advantage of trading using opposite Retail Food and Addentax Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Retail Food position performs unexpectedly, Addentax Group 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 Addentax Group will offset losses from the drop in Addentax Group's long position.| Retail Food vs. McDonalds | Retail Food vs. Starbucks | Retail Food vs. Yum Brands | Retail Food vs. Chipotle Mexican Grill |
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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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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