Correlation Between FHC Holdings and Express
Can any of the company-specific risk be diversified away by investing in both FHC Holdings and Express 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 FHC Holdings and Express into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FHC Holdings and Express, you can compare the effects of market volatilities on FHC Holdings and Express 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 FHC Holdings with a short position of Express. Check out your portfolio center. Please also check ongoing floating volatility patterns of FHC Holdings and Express.
Diversification Opportunities for FHC Holdings and Express
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FHC and Express is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FHC Holdings and Express in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Express and FHC Holdings 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 FHC Holdings are associated (or correlated) with Express. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Express has no effect on the direction of FHC Holdings i.e., FHC Holdings and Express go up and down completely randomly.
Pair Corralation between FHC Holdings and Express
If you would invest 160.00 in Express on January 25, 2024 and sell it today you would earn a total of 0.00 from holding Express or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
FHC Holdings vs. Express
Performance |
Timeline |
FHC Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Express |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
FHC Holdings and Express Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with FHC Holdings and Express
The main advantage of trading using opposite FHC Holdings and Express positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FHC Holdings position performs unexpectedly, Express 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 Express will offset losses from the drop in Express' long position.FHC Holdings vs. Saratoga Investment Corp | FHC Holdings vs. Bank of New | FHC Holdings vs. Ecovyst | FHC Holdings vs. Artisan Partners Asset |
Express vs. Koss Corporation | Express vs. BlackBerry | Express vs. Castor Maritime | Express vs. Clover Health Investments |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
Other Complementary Tools
Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
Stocks Directory Find actively traded stocks across global markets | |
Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
CEOs Directory Screen CEOs from public companies around the world |