Correlation Between Westbury Bancorp and Xinyi Glass

Can any of the company-specific risk be diversified away by investing in both Westbury Bancorp and Xinyi Glass 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 Westbury Bancorp and Xinyi Glass into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Westbury Bancorp and Xinyi Glass Holdings, you can compare the effects of market volatilities on Westbury Bancorp and Xinyi Glass 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 Westbury Bancorp with a short position of Xinyi Glass. Check out your portfolio center. Please also check ongoing floating volatility patterns of Westbury Bancorp and Xinyi Glass.

Diversification Opportunities for Westbury Bancorp and Xinyi Glass

0.0

Correlation Coefficient

Westbury Bancorp  Xinyi Glass

Pay attention - limited upside

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

Pair Corralation between Westbury Bancorp and Xinyi Glass

If you would invest  90.00  in Xinyi Glass Holdings on May 7, 2025 and sell it today you would lose (2.00) from holding Xinyi Glass Holdings or give up 2.22% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Westbury Bancorp  vs.  Xinyi Glass Holdings

Westbury Bancorp

Risk-Adjusted Performance

Weakest

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

Xinyi Glass Holdings

Risk-Adjusted Performance

Weakest

Over the last 90 days Xinyi Glass Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable technical and fundamental indicators, Xinyi Glass is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Pair Trading with Westbury Bancorp and Xinyi Glass

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

The idea behind Westbury Bancorp and Xinyi Glass Holdings 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.