Correlation Between Fidelity and FitLife Brands,

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

By analyzing existing cross correlation between Fidelity Guaranty Life and FitLife Brands, Common, you can compare the effects of market volatilities on Fidelity and FitLife Brands, 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 Fidelity with a short position of FitLife Brands,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity and FitLife Brands,.

Diversification Opportunities for Fidelity and FitLife Brands,

-0.33

Correlation Coefficient

Fidelity  FitLife Brands,

Very good diversification

The 3 months correlation between Fidelity and FitLife is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Guaranty Life and FitLife Brands, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FitLife Brands, Common and Fidelity 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 Fidelity Guaranty Life are associated (or correlated) with FitLife Brands,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FitLife Brands, Common has no effect on the direction of Fidelity i.e., Fidelity and FitLife Brands, go up and down completely randomly.

Pair Corralation between Fidelity and FitLife Brands,

Assuming the 90 days trading horizon Fidelity Guaranty Life is expected to under-perform the FitLife Brands,. But the bond apears to be less risky and, when comparing its historical volatility, Fidelity Guaranty Life is 1.93 times less risky than FitLife Brands,. The bond trades about -0.11 of its potential returns per unit of risk. The FitLife Brands, Common is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  3,318  in FitLife Brands, Common on September 4, 2024 and sell it today you would earn a total of  17.00  from holding FitLife Brands, Common or generate 0.51% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	26.98%
Values	Daily Returns

Fidelity Guaranty Life  vs.  FitLife Brands, Common

Fidelity Guaranty Life

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Fidelity Guaranty Life has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Bond's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for Fidelity Guaranty Life investors.

FitLife Brands, Common

Risk-Adjusted Performance

1 of 100

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in FitLife Brands, Common are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable essential indicators, FitLife Brands, is not utilizing all of its potentials. The recent stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Fidelity and FitLife Brands,

The main advantage of trading using opposite Fidelity and FitLife Brands, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity position performs unexpectedly, FitLife Brands, 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 FitLife Brands, will offset losses from the drop in FitLife Brands,'s long position.

The idea behind Fidelity Guaranty Life and FitLife Brands, Common pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.