Correlation Between Whole Foods and Aarons
Can any of the company-specific risk be diversified away by investing in both Whole Foods and Aarons 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 Whole Foods and Aarons into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Whole Foods Market and The Aarons, you can compare the effects of market volatilities on Whole Foods and Aarons 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 Whole Foods with a short position of Aarons. Check out your portfolio center. Please also check ongoing floating volatility patterns of Whole Foods and Aarons.
Diversification Opportunities for Whole Foods and Aarons
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Whole and Aarons is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Whole Foods Market and The Aarons in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aarons and Whole Foods 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 Whole Foods Market are associated (or correlated) with Aarons. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aarons has no effect on the direction of Whole Foods i.e., Whole Foods and Aarons go up and down completely randomly.
Pair Corralation between Whole Foods and Aarons
If you would invest 699.00 in The Aarons on January 19, 2024 and sell it today you would earn a total of 10.00 from holding The Aarons or generate 1.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Whole Foods Market vs. The Aarons
Performance |
| Timeline |
| Whole Foods Market |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Aarons |
Whole Foods and Aarons Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Whole Foods and Aarons
The main advantage of trading using opposite Whole Foods and Aarons positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Whole Foods position performs unexpectedly, Aarons 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 Aarons will offset losses from the drop in Aarons' long position.| Whole Foods vs. Radcom | Whole Foods vs. Summit Hotel Properties | Whole Foods vs. Grupo Televisa SAB | Whole Foods vs. Weibo Corp |
| Aarons vs. Custom Truck One | Aarons vs. PROG Holdings | Aarons vs. McGrath RentCorp | Aarons vs. HE Equipment Services |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| AI Investment Finder Use AI to screen and filter profitable investment opportunities | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |