Correlation Between Sligro Food and Astronics
Can any of the company-specific risk be diversified away by investing in both Sligro Food and Astronics 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 Sligro Food and Astronics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sligro Food Group and Astronics, you can compare the effects of market volatilities on Sligro Food and Astronics 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 Sligro Food with a short position of Astronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sligro Food and Astronics.
Diversification Opportunities for Sligro Food and Astronics
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Sligro and Astronics is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Sligro Food Group and Astronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Astronics and Sligro 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 Sligro Food Group are associated (or correlated) with Astronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Astronics has no effect on the direction of Sligro Food i.e., Sligro Food and Astronics go up and down completely randomly.
Pair Corralation between Sligro Food and Astronics
Assuming the 90 days horizon Sligro Food is expected to generate 10.21 times less return on investment than Astronics. But when comparing it to its historical volatility, Sligro Food Group is 6.54 times less risky than Astronics. It trades about 0.13 of its potential returns per unit of risk. Astronics is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 3,680 in Astronics on September 3, 2025 and sell it today you would earn a total of 1,635 from holding Astronics or generate 44.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.44% |
| Values | Daily Returns |
Sligro Food Group vs. Astronics
Performance |
| Timeline |
| Sligro Food Group |
| Astronics |
Sligro Food and Astronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sligro Food and Astronics
The main advantage of trading using opposite Sligro Food and Astronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sligro Food position performs unexpectedly, Astronics 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 Astronics will offset losses from the drop in Astronics' long position.| Sligro Food vs. Corazon Mining | Sligro Food vs. Mako Mining Corp | Sligro Food vs. GoldQuest Mining Corp | Sligro Food vs. Zijin Mining Group |
| Astronics vs. Genufood Energy | Astronics vs. MTY Food Group | Astronics vs. Compass Diversified Holdings | Astronics vs. Sligro Food Group |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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