Correlation Between SpartanNash and Cayson Acquisition
Can any of the company-specific risk be diversified away by investing in both SpartanNash and Cayson Acquisition 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 SpartanNash and Cayson Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SpartanNash Co and Cayson Acquisition Corp, you can compare the effects of market volatilities on SpartanNash and Cayson Acquisition 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 SpartanNash with a short position of Cayson Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of SpartanNash and Cayson Acquisition.
Diversification Opportunities for SpartanNash and Cayson Acquisition
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between SpartanNash and Cayson is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding SpartanNash Co and Cayson Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cayson Acquisition Corp and SpartanNash 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 SpartanNash Co are associated (or correlated) with Cayson Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cayson Acquisition Corp has no effect on the direction of SpartanNash i.e., SpartanNash and Cayson Acquisition go up and down completely randomly.
Pair Corralation between SpartanNash and Cayson Acquisition
If you would invest 1,052 in Cayson Acquisition Corp on September 3, 2025 and sell it today you would earn a total of 3.00 from holding Cayson Acquisition Corp or generate 0.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 5.0% |
| Values | Daily Returns |
SpartanNash Co vs. Cayson Acquisition Corp
Performance |
| Timeline |
| SpartanNash |
Risk-Adjusted Performance
Fair
Weak | Strong |
| Cayson Acquisition Corp |
SpartanNash and Cayson Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SpartanNash and Cayson Acquisition
The main advantage of trading using opposite SpartanNash and Cayson Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SpartanNash position performs unexpectedly, Cayson Acquisition 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 Cayson Acquisition will offset losses from the drop in Cayson Acquisition's long position.| SpartanNash vs. Vienna Insurance Group | SpartanNash vs. Hamilton Insurance Group, | SpartanNash vs. Universal Insurance Holdings | SpartanNash vs. Lippo Malls Indonesia |
| Cayson Acquisition vs. Perseus Mining Limited | Cayson Acquisition vs. Mako Mining Corp | Cayson Acquisition vs. NanoTech Gaming | Cayson Acquisition vs. Canoe Mining Ventures |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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