Correlation Between FUTURE LIFESTYLE and CVS Health

By analyzing existing cross correlation between FUTURE LIFESTYLE FASHIONS and CVS Health, you can compare the effects of market volatilities on FUTURE LIFESTYLE and CVS Health 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 FUTURE LIFESTYLE with a short position of CVS Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of FUTURE LIFESTYLE and CVS Health.

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Can any of the company-specific risk be diversified away by investing in both FUTURE LIFESTYLE and CVS Health 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 FUTURE LIFESTYLE and CVS Health into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for FUTURE LIFESTYLE and CVS Health

0.0
  Correlation Coefficient
FUTURE LIFESTYLE FAS
CVS Health

Pay attention - limited upside

The 3 months correlation between FUTURE and CVS Health is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FUTURE LIFESTYLE FASHIONS LTD and CVS Health Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on CVS Health and FUTURE LIFESTYLE 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 FUTURE LIFESTYLE FASHIONS are associated (or correlated) with CVS Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CVS Health has no effect on the direction of FUTURE LIFESTYLE i.e. FUTURE LIFESTYLE and CVS Health go up and down completely randomly.

Pair Corralation between FUTURE LIFESTYLE and CVS Health

If you would invest  5,896  in CVS Health on June 10, 2020 and sell it today you would earn a total of  232.00  from holding CVS Health or generate 3.93% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

FUTURE LIFESTYLE FASHIONS LTD  vs.  CVS Health Corp.

 Performance (%) 
      Timeline 
FUTURE LIFESTYLE FAS 
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FUTURE LIFESTYLE Risk-Adjusted Performance

Over the last 30 days FUTURE LIFESTYLE FASHIONS has generated negative risk-adjusted returns adding no value to investors with long positions. Although quite persistent forward indicators, FUTURE LIFESTYLE is not utilizing all of its potentials. The current stock price mess, may contribute to short term losses for the institutional investors.
CVS Health 
22

CVS Health Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in CVS Health are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively invariable forward-looking signals, CVS Health is not utilizing all of its potentials. The current stock price agitation, may contribute to short term losses for the retail investors.

FUTURE LIFESTYLE and CVS Health Volatility Contrast

Check out your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
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