Correlation Between Wins Finance and PHH
Can any of the company-specific risk be diversified away by investing in both Wins Finance and PHH 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 PHH 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 PHH Corporation, you can compare the effects of market volatilities on Wins Finance and PHH 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 PHH. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wins Finance and PHH.
Diversification Opportunities for Wins Finance and PHH
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Wins and PHH is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Wins Finance Holdings and PHH Corp. in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PHH Corporation 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 PHH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PHH Corporation has no effect on the direction of Wins Finance i.e., Wins Finance and PHH go up and down completely randomly.
Pair Corralation between Wins Finance and PHH
If you would invest (100.00) in PHH Corporation on January 26, 2024 and sell it today you would earn a total of 100.00 from holding PHH Corporation or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Wins Finance Holdings vs. PHH Corp.
Performance |
| Timeline |
| Wins Finance Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| PHH Corporation |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Wins Finance and PHH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wins Finance and PHH
The main advantage of trading using opposite Wins Finance and PHH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wins Finance position performs unexpectedly, PHH 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 PHH will offset losses from the drop in PHH's long position.| Wins Finance vs. Western Union Co | Wins Finance vs. Silo Pharma | Wins Finance vs. Shoe Carnival | Wins Finance vs. Freedom Bank of |
| PHH vs. Triton International Limited | PHH vs. Avient Corp | PHH vs. Jeld Wen Holding | PHH vs. Harmony Gold Mining |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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