Correlation Between DICKER DATA and COCA A

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Can any of the company-specific risk be diversified away by investing in both DICKER DATA and COCA A 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 DICKER DATA and COCA A into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DICKER DATA LTD and COCA A HBC, you can compare the effects of market volatilities on DICKER DATA and COCA A 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 DICKER DATA with a short position of COCA A. Check out your portfolio center. Please also check ongoing floating volatility patterns of DICKER DATA and COCA A.

Diversification Opportunities for DICKER DATA and COCA A

0.19
  Correlation Coefficient

Average diversification

The 3 months correlation between DICKER and COCA is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding DICKER DATA LTD and COCA A HBC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COCA A HBC and DICKER DATA 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 DICKER DATA LTD are associated (or correlated) with COCA A. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COCA A HBC has no effect on the direction of DICKER DATA i.e., DICKER DATA and COCA A go up and down completely randomly.

Pair Corralation between DICKER DATA and COCA A

Assuming the 90 days horizon DICKER DATA LTD is expected to generate 1.69 times more return on investment than COCA A. However, DICKER DATA is 1.69 times more volatile than COCA A HBC. It trades about 0.04 of its potential returns per unit of risk. COCA A HBC is currently generating about 0.03 per unit of risk. If you would invest  452.00  in DICKER DATA LTD on April 23, 2025 and sell it today you would earn a total of  18.00  from holding DICKER DATA LTD or generate 3.98% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

DICKER DATA LTD  vs.  COCA A HBC

 Performance 
       Timeline  
DICKER DATA LTD 

Risk-Adjusted Performance

Weak

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in DICKER DATA LTD are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable basic indicators, DICKER DATA is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.
COCA A HBC 

Risk-Adjusted Performance

Weak

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in COCA A HBC are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable forward-looking signals, COCA A is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

DICKER DATA and COCA A Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with DICKER DATA and COCA A

The main advantage of trading using opposite DICKER DATA and COCA A positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DICKER DATA position performs unexpectedly, COCA A 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 COCA A will offset losses from the drop in COCA A's long position.
The idea behind DICKER DATA LTD and COCA A HBC 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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.

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