Correlation Between Thor Industries and Contextlogic
Can any of the company-specific risk be diversified away by investing in both Thor Industries and Contextlogic 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 Thor Industries and Contextlogic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Thor Industries and Contextlogic, you can compare the effects of market volatilities on Thor Industries and Contextlogic 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 Thor Industries with a short position of Contextlogic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thor Industries and Contextlogic.
Diversification Opportunities for Thor Industries and Contextlogic
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Thor and Contextlogic is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Thor Industries and Contextlogic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Contextlogic and Thor Industries 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 Thor Industries are associated (or correlated) with Contextlogic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Contextlogic has no effect on the direction of Thor Industries i.e., Thor Industries and Contextlogic go up and down completely randomly.
Pair Corralation between Thor Industries and Contextlogic
Considering the 90-day investment horizon Thor Industries is expected to generate 0.42 times more return on investment than Contextlogic. However, Thor Industries is 2.39 times less risky than Contextlogic. It trades about 0.22 of its potential returns per unit of risk. Contextlogic is currently generating about -0.08 per unit of risk. If you would invest 8,124 in Thor Industries on May 29, 2025 and sell it today you would earn a total of 2,802 from holding Thor Industries or generate 34.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 27.42% |
| Values | Daily Returns |
Thor Industries vs. Contextlogic
Performance |
| Timeline |
| Thor Industries |
| Contextlogic |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Thor Industries and Contextlogic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thor Industries and Contextlogic
The main advantage of trading using opposite Thor Industries and Contextlogic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thor Industries position performs unexpectedly, Contextlogic 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 Contextlogic will offset losses from the drop in Contextlogic's long position.| Thor Industries vs. Marine Products | Thor Industries vs. Malibu Boats | Thor Industries vs. Brunswick | Thor Industries vs. LCI Industries |
| Contextlogic vs. Doubledown Interactive Co | Contextlogic vs. Champion Gaming Group | Contextlogic vs. Roblox Corp | Contextlogic vs. NetEase |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| AI Portfolio Prophet Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios |