Correlation Between Hugo Boss and SLR Investment
Specify exactly 2 symbols:
By analyzing existing cross correlation between Hugo Boss AG and SLR Investment Corp, you can compare the effects of market volatilities on Hugo Boss and SLR Investment 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 Hugo Boss with a short position of SLR Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hugo Boss and SLR Investment.
Diversification Opportunities for Hugo Boss and SLR Investment
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Hugo and SLR is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Hugo Boss AG and SLR Investment Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SLR Investment Corp and Hugo Boss 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 Hugo Boss AG are associated (or correlated) with SLR Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SLR Investment Corp has no effect on the direction of Hugo Boss i.e., Hugo Boss and SLR Investment go up and down completely randomly.
Pair Corralation between Hugo Boss and SLR Investment
Assuming the 90 days trading horizon Hugo Boss AG is expected to under-perform the SLR Investment. In addition to that, Hugo Boss is 1.76 times more volatile than SLR Investment Corp. It trades about -0.01 of its total potential returns per unit of risk. SLR Investment Corp is currently generating about 0.07 per unit of volatility. If you would invest 1,032 in SLR Investment Corp on September 24, 2024 and sell it today you would earn a total of 509.00 from holding SLR Investment Corp or generate 49.32% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Hugo Boss AG vs. SLR Investment Corp
Performance |
Timeline |
Hugo Boss AG |
SLR Investment Corp |
Hugo Boss and SLR Investment Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Hugo Boss and SLR Investment
The main advantage of trading using opposite Hugo Boss and SLR Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hugo Boss position performs unexpectedly, SLR Investment 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 SLR Investment will offset losses from the drop in SLR Investment's long position.Hugo Boss vs. SLR Investment Corp | Hugo Boss vs. SEI INVESTMENTS | Hugo Boss vs. EBRO FOODS | Hugo Boss vs. ECHO INVESTMENT ZY |
SLR Investment vs. Blackstone Group | SLR Investment vs. The Bank of | SLR Investment vs. Ameriprise Financial | SLR Investment vs. State Street |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |