Correlation Between Weis Markets and Susser Holdings
Can any of the company-specific risk be diversified away by investing in both Weis Markets and Susser Holdings 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 Weis Markets and Susser Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Weis Markets and Susser Holdings Corp, you can compare the effects of market volatilities on Weis Markets and Susser 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 Weis Markets with a short position of Susser Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Weis Markets and Susser Holdings.
Diversification Opportunities for Weis Markets and Susser Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Weis and Susser is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Weis Markets and Susser Holdings Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Susser Holdings Corp and Weis Markets 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 Weis Markets are associated (or correlated) with Susser Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Susser Holdings Corp has no effect on the direction of Weis Markets i.e., Weis Markets and Susser Holdings go up and down completely randomly.
Pair Corralation between Weis Markets and Susser Holdings
If you would invest 6,267 in Weis Markets on January 19, 2024 and sell it today you would earn a total of 0.00 from holding Weis Markets or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Weis Markets vs. Susser Holdings Corp
Performance |
| Timeline |
| Weis Markets |
| Susser Holdings Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Weis Markets and Susser Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Weis Markets and Susser Holdings
The main advantage of trading using opposite Weis Markets and Susser Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Weis Markets position performs unexpectedly, Susser Holdings 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 Susser Holdings will offset losses from the drop in Susser Holdings' long position.The idea behind Weis Markets and Susser Holdings Corp pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Susser Holdings vs. Eastman Chemical | Susser Holdings vs. NL Industries | Susser Holdings vs. Flexible Solutions International | Susser Holdings vs. Axalta Coating Systems |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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