Correlation Between Cronos and WINDSOR MACHINES

By analyzing existing cross correlation between Cronos Group Inc and WINDSOR MACHINES, you can compare the effects of market volatilities on Cronos and WINDSOR MACHINES 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 Cronos with a short position of WINDSOR MACHINES. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cronos and WINDSOR MACHINES.

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

Diversification Opportunities for Cronos and WINDSOR MACHINES

0.0
  Correlation Coefficient
Cronos Group Common
WINDSOR MACHINES

Pay attention - limited upside

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

Pair Corralation between Cronos and WINDSOR MACHINES

If you would invest  579.00  in Cronos Group Inc on June 10, 2020 and sell it today you would earn a total of  53.00  from holding Cronos Group Inc or generate 9.15% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Cronos Group Inc Common Share  vs.  WINDSOR MACHINES

 Performance (%) 
      Timeline 
Cronos Group Common 
33

Cronos Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cronos Group Inc are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Although quite conflicting forward indicators, Cronos disclosed solid returns over the last few months and may actually be approaching a breakup point.
WINDSOR MACHINES 
00

WINDSOR MACHINES Risk-Adjusted Performance

Over the last 30 days WINDSOR MACHINES has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, WINDSOR MACHINES is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Cronos and WINDSOR MACHINES Volatility Contrast

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