Correlation Between SUPERVALU INC and Vipshop Holdings
Can any of the company-specific risk be diversified away by investing in both SUPERVALU INC and Vipshop Holdings 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 SUPERVALU INC and Vipshop Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SUPERVALU INC and Vipshop Holdings Limited, you can compare the effects of market volatilities on SUPERVALU INC and Vipshop Holdings 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 SUPERVALU INC with a short position of Vipshop Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of SUPERVALU INC and Vipshop Holdings.
Diversification Opportunities for SUPERVALU INC and Vipshop Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SUPERVALU and Vipshop is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SUPERVALU INC and Vipshop Holdings Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vipshop Holdings and SUPERVALU INC 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 SUPERVALU INC are associated (or correlated) with Vipshop Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vipshop Holdings has no effect on the direction of SUPERVALU INC i.e., SUPERVALU INC and Vipshop Holdings go up and down completely randomly.
Pair Corralation between SUPERVALU INC and Vipshop Holdings
If you would invest 790.00 in Vipshop Holdings Limited on December 30, 2023 and sell it today you would earn a total of 865.00 from holding Vipshop Holdings Limited or generate 109.49% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
SUPERVALU INC vs. Vipshop Holdings Limited
Performance |
Timeline |
SUPERVALU INC |
Risk-Adjusted Performance
0 of 100
Low | High |
Very Weak
Vipshop Holdings |
SUPERVALU INC and Vipshop Holdings Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with SUPERVALU INC and Vipshop Holdings
The main advantage of trading using opposite SUPERVALU INC and Vipshop Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SUPERVALU INC position performs unexpectedly, Vipshop Holdings 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 Vipshop Holdings will offset losses from the drop in Vipshop Holdings' long position.SUPERVALU INC vs. Semtech | SUPERVALU INC vs. Videolocity International | SUPERVALU INC vs. Blue Hat Interactive | SUPERVALU INC vs. LithiumBank Resources Corp |
Vipshop Holdings vs. 1StdibsCom | Vipshop Holdings vs. Marshall Ilsley Corp | Vipshop Holdings vs. Sea | Vipshop Holdings vs. Yunji Inc |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Other Complementary Tools
Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
Share Portfolio Track or share privately all of your investments from the convenience of any device | |
Commodity Directory Find actively traded commodities issued by global exchanges | |
AI Investment Finder Use AI to screen and filter profitable investment opportunities | |
Equity Valuation Check real value of public entities based on technical and fundamental data | |
Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |