Correlation Between Slate Grocery and Plantify Foods

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

By analyzing existing cross correlation between Slate Grocery REIT and Plantify Foods, you can compare the effects of market volatilities on Slate Grocery and Plantify Foods 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 Slate Grocery with a short position of Plantify Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Slate Grocery and Plantify Foods.

Diversification Opportunities for Slate Grocery and Plantify Foods

0.0

Correlation Coefficient

Slate Grocery  Plantify Foods

Pay attention - limited upside

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

Pair Corralation between Slate Grocery and Plantify Foods

If you would invest  964.00  in Slate Grocery REIT on March 26, 2025 and sell it today you would earn a total of  90.00  from holding Slate Grocery REIT or generate 9.34% return on investment over 90 days.

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

Slate Grocery REIT  vs.  Plantify Foods

Slate Grocery REIT

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Slate Grocery REIT are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively abnormal basic indicators, Slate Grocery may actually be approaching a critical reversion point that can send shares even higher in July 2025.

Plantify Foods

Risk-Adjusted Performance

Very Weak

Over the last 90 days Plantify Foods has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable technical and fundamental indicators, Plantify Foods is not utilizing all of its potentials. The latest stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Pair Trading with Slate Grocery and Plantify Foods

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

The idea behind Slate Grocery REIT and Plantify Foods 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.