Correlation Between High Performance and Group 1
Can any of the company-specific risk be diversified away by investing in both High Performance and Group 1 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 High Performance and Group 1 into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between High Performance Beverages and Group 1 Automotive, you can compare the effects of market volatilities on High Performance and Group 1 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 High Performance with a short position of Group 1. Check out your portfolio center. Please also check ongoing floating volatility patterns of High Performance and Group 1.
Diversification Opportunities for High Performance and Group 1
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between High and Group is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding High Performance Beverages and Group 1 Automotive in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Group 1 Automotive and High Performance 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 High Performance Beverages are associated (or correlated) with Group 1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Group 1 Automotive has no effect on the direction of High Performance i.e., High Performance and Group 1 go up and down completely randomly.
Pair Corralation between High Performance and Group 1
If you would invest 0.00 in High Performance Beverages on September 10, 2025 and sell it today you would earn a total of 0.00 from holding High Performance Beverages or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
High Performance Beverages vs. Group 1 Automotive
Performance |
| Timeline |
| High Performance Bev |
| Group 1 Automotive |
High Performance and Group 1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with High Performance and Group 1
The main advantage of trading using opposite High Performance and Group 1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if High Performance position performs unexpectedly, Group 1 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 Group 1 will offset losses from the drop in Group 1's long position.| High Performance vs. Plant Veda Foods | High Performance vs. NOHO Inc | High Performance vs. Apple Rush | High Performance vs. Rocky Mountain High |
| Group 1 vs. Chipotle Mexican Grill | Group 1 vs. Yum Brands | Group 1 vs. Starbucks | Group 1 vs. Darden Restaurants |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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