Correlation Between Strattec Security and Weyco
Can any of the company-specific risk be diversified away by investing in both Strattec Security and Weyco 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 Strattec Security and Weyco into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Strattec Security and Weyco Group, you can compare the effects of market volatilities on Strattec Security and Weyco 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 Strattec Security with a short position of Weyco. Check out your portfolio center. Please also check ongoing floating volatility patterns of Strattec Security and Weyco.
Diversification Opportunities for Strattec Security and Weyco
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Strattec and Weyco is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Strattec Security and Weyco Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Weyco Group and Strattec Security 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 Strattec Security are associated (or correlated) with Weyco. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Weyco Group has no effect on the direction of Strattec Security i.e., Strattec Security and Weyco go up and down completely randomly.
Pair Corralation between Strattec Security and Weyco
Given the investment horizon of 90 days Strattec Security is expected to under-perform the Weyco. In addition to that, Strattec Security is 1.17 times more volatile than Weyco Group. It trades about 0.0 of its total potential returns per unit of risk. Weyco Group is currently generating about 0.05 per unit of volatility. If you would invest 2,735 in Weyco Group on August 19, 2025 and sell it today you would earn a total of 162.00 from holding Weyco Group or generate 5.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Strattec Security vs. Weyco Group
Performance |
| Timeline |
| Strattec Security |
| Weyco Group |
Strattec Security and Weyco Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Strattec Security and Weyco
The main advantage of trading using opposite Strattec Security and Weyco positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Strattec Security position performs unexpectedly, Weyco 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 Weyco will offset losses from the drop in Weyco's long position.| Strattec Security vs. Holley Inc | Strattec Security vs. Weyco Group | Strattec Security vs. Gambling Group | Strattec Security vs. El Pollo Loco |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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