Correlation Between Wins Finance and Apple
Can any of the company-specific risk be diversified away by investing in both Wins Finance and Apple 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 Wins Finance and Apple into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Wins Finance Holdings and Apple Inc, you can compare the effects of market volatilities on Wins Finance and Apple 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 Wins Finance with a short position of Apple. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wins Finance and Apple.
Diversification Opportunities for Wins Finance and Apple
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Wins and Apple is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Wins Finance Holdings and Apple Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc and Wins Finance 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 Wins Finance Holdings are associated (or correlated) with Apple. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apple Inc has no effect on the direction of Wins Finance i.e., Wins Finance and Apple go up and down completely randomly.
Pair Corralation between Wins Finance and Apple
If you would invest (100.00) in Wins Finance Holdings on January 20, 2024 and sell it today you would earn a total of 100.00 from holding Wins Finance Holdings or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Wins Finance Holdings vs. Apple Inc
Performance |
| Timeline |
| Wins Finance Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Apple Inc |
Wins Finance and Apple Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wins Finance and Apple
The main advantage of trading using opposite Wins Finance and Apple positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wins Finance position performs unexpectedly, Apple 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 Apple will offset losses from the drop in Apple's long position.| Wins Finance vs. Postal Realty Trust | Wins Finance vs. SEI Investments | Wins Finance vs. Small Cap Premium | Wins Finance vs. JBG SMITH Properties |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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