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Correlation Between Koss and Mohawk Group

Analyzing existing cross correlation between Koss Corporation and Mohawk Group Holdings. You can compare the effects of market volatilities on Koss and Mohawk Group 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 Koss with a short position of Mohawk Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koss and Mohawk Group.

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Diversification Opportunities for Koss and Mohawk Group

Koss Corp. diversification synergy
0.57
<div class='circular--portrait-small' style='background:#2A0CD0;color: white;font-size:1.1em;padding-top: 12px;;'>KOS</div>
<div class='circular--portrait-small' style='background:#FF6600;color: white;font-size:1.1em;padding-top: 12px;;'>MWK</div>

Very weak diversification

The 3 months correlation between Koss and Mohawk is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Koss Corp. and Mohawk Group Holdings in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Mohawk Group Holdings and Koss 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 Koss Corporation are associated (or correlated) with Mohawk Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mohawk Group Holdings has no effect on the direction of Koss i.e. Koss and Mohawk Group go up and down completely randomly.

Pair Corralation between Koss and Mohawk Group

Given the investment horizon of 30 days, Koss Corporation is expected to generate 0.39 times more return on investment than Mohawk Group. However, Koss Corporation is 2.54 times less risky than Mohawk Group. It trades about 0.0 of its potential returns per unit of risk. Mohawk Group Holdings is currently generating about 0.0 per unit of risk. If you would invest  146.00  in Koss Corporation on January 24, 2020 and sell it today you would lose (6.00)  from holding Koss Corporation or give up 4.11% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthWeak
Accuracy86.3%
ValuesDaily Returns

Koss Corp.  vs.  Mohawk Group Holdings

 Performance (%) 
    
  Timeline 
Koss 
00

Risk-Adjusted Performance

Over the last 30 days Koss Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, Koss is not utilizing all of its potentials. The current stock price agitation, may contribute to short term losses for the management.
Mohawk Group Holdings 
00

Risk-Adjusted Performance

Over the last 30 days Mohawk Group Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, Mohawk Group is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Koss and Mohawk Group Volatility Contrast

 Predicted Return Density 
    
  Returns 
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