Correlation Between Haverty Furniture and 1 800

Can any of the company-specific risk be diversified away by investing in both Haverty Furniture and 1 800 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 Haverty Furniture and 1 800 into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Haverty Furniture Companies and 1 800 FLOWERSCOM, you can compare the effects of market volatilities on Haverty Furniture and 1 800 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 Haverty Furniture with a short position of 1 800. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haverty Furniture and 1 800.

Diversification Opportunities for Haverty Furniture and 1 800

0.36

Correlation Coefficient

Haverty Furniture  1 800

Weak diversification

The 3 months correlation between Haverty and FLWS is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Haverty Furniture Companies and 1 800 FLOWERSCOM in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 1 800 FLOWERSCOM and Haverty Furniture 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 Haverty Furniture Companies are associated (or correlated) with 1 800. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 1 800 FLOWERSCOM has no effect on the direction of Haverty Furniture i.e., Haverty Furniture and 1 800 go up and down completely randomly.

Pair Corralation between Haverty Furniture and 1 800

Considering the 90-day investment horizon Haverty Furniture Companies is expected to generate 0.44 times more return on investment than 1 800. However, Haverty Furniture Companies is 2.25 times less risky than 1 800. It trades about 0.05 of its potential returns per unit of risk. 1 800 FLOWERSCOM is currently generating about 0.02 per unit of risk. If you would invest  1,915  in Haverty Furniture Companies on May 5, 2025 and sell it today you would earn a total of  125.00  from holding Haverty Furniture Companies or generate 6.53% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Haverty Furniture Companies  vs.  1 800 FLOWERSCOM

Haverty Furniture

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Haverty Furniture Companies are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, Haverty Furniture may actually be approaching a critical reversion point that can send shares even higher in September 2025.

1 800 FLOWERSCOM

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in 1 800 FLOWERSCOM are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, 1 800 is not utilizing all of its potentials. The recent stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Haverty Furniture and 1 800

The main advantage of trading using opposite Haverty Furniture and 1 800 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haverty Furniture position performs unexpectedly, 1 800 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 1 800 will offset losses from the drop in 1 800's long position.

The idea behind Haverty Furniture Companies and 1 800 FLOWERSCOM 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.