Correlation Between Consolidated Sports and Expeditors International

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

By analyzing existing cross correlation between Consolidated Sports Media and Expeditors International of, you can compare the effects of market volatilities on Consolidated Sports and Expeditors International 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 Consolidated Sports with a short position of Expeditors International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Consolidated Sports and Expeditors International.

Diversification Opportunities for Consolidated Sports and Expeditors International

0.0

Correlation Coefficient

Consolidated Sports  Expeditors International

Pay attention - limited upside

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

Pair Corralation between Consolidated Sports and Expeditors International

If you would invest  12,085  in Expeditors International of on September 2, 2025 and sell it today you would earn a total of  2,605  from holding Expeditors International of or generate 21.56% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Consolidated Sports Media  vs.  Expeditors International of

Consolidated Sports Media

Risk-Adjusted Performance

Weakest

Over the last 90 days Consolidated Sports Media has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable technical and fundamental indicators, Consolidated Sports is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Expeditors International

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Expeditors International of are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. In spite of rather unfluctuating basic indicators, Expeditors International exhibited solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Consolidated Sports and Expeditors International

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

The idea behind Consolidated Sports Media and Expeditors International of 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.

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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.