Correlation Analysis Between Rite Aid and Vipshop Holdings

This module allows you to analyze existing cross correlation between Rite Aid Corporation and Vipshop Holdings Limited. You can compare the effects of market volatilities on Rite Aid and Vipshop Holdings 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 Rite Aid with a short position of Vipshop Holdings. See also your portfolio center. Please also check ongoing floating volatility patterns of Rite Aid and Vipshop Holdings.
 Time Horizon     30 Days    Login   to change
Symbolsvs

Rite Aid Corp.  vs.  Vipshop Holdings Limited

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Rite Aid Corporation is expected to generate 2.78 times more return on investment than Vipshop Holdings. However, Rite Aid is 2.78 times more volatile than Vipshop Holdings Limited. It trades about -0.08 of its potential returns per unit of risk. Vipshop Holdings Limited is currently generating about -0.44 per unit of risk. If you would invest  197.00  in Rite Aid Corporation on June 21, 2018 and sell it today you would lose (15.00)  from holding Rite Aid Corporation or give up 7.61% of portfolio value over 30 days.

Pair Corralation between Rite Aid and Vipshop Holdings

0.53
Time Period1 Month [change]
DirectionPositive 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Diversification

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Rite Aid Corp. and Vipshop Holdings Limited in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Vipshop Holdings Limited and Rite Aid 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 Rite Aid Corporation are associated (or correlated) with Vipshop Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vipshop Holdings Limited has no effect on the direction of Rite Aid i.e. Rite Aid and Vipshop Holdings go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
Rite Aid  
0 

Risk-Adjusted Performance

Over the last 30 days Rite Aid Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.
Vipshop Holdings Limited  
0 

Risk-Adjusted Performance

Over the last 30 days Vipshop Holdings Limited has generated negative risk-adjusted returns adding no value to investors with long positions.

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