Correlation Between Applied Blockchain and KROGER
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By analyzing existing cross correlation between Applied Blockchain and KROGER 35 percent, you can compare the effects of market volatilities on Applied Blockchain and KROGER 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 Applied Blockchain with a short position of KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Applied Blockchain and KROGER.
Diversification Opportunities for Applied Blockchain and KROGER
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Applied and KROGER is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Applied Blockchain and KROGER 35 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER 35 percent and Applied Blockchain 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 Applied Blockchain are associated (or correlated) with KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER 35 percent has no effect on the direction of Applied Blockchain i.e., Applied Blockchain and KROGER go up and down completely randomly.
Pair Corralation between Applied Blockchain and KROGER
Given the investment horizon of 90 days Applied Blockchain is expected to generate 18.41 times more return on investment than KROGER. However, Applied Blockchain is 18.41 times more volatile than KROGER 35 percent. It trades about 0.07 of its potential returns per unit of risk. KROGER 35 percent is currently generating about 0.01 per unit of risk. If you would invest 192.00 in Applied Blockchain on September 12, 2024 and sell it today you would earn a total of 702.00 from holding Applied Blockchain or generate 365.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.96% |
| Values | Daily Returns |
Applied Blockchain vs. KROGER 35 percent
Performance |
| Timeline |
| Applied Blockchain |
| KROGER 35 percent |
Applied Blockchain and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Applied Blockchain and KROGER
The main advantage of trading using opposite Applied Blockchain and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Applied Blockchain position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.| Applied Blockchain vs. Magic Empire Global | Applied Blockchain vs. Zhong Yang Financial | Applied Blockchain vs. Netcapital | Applied Blockchain vs. Lazard |
| KROGER vs. AEP TEX INC | KROGER vs. US BANK NATIONAL | KROGER vs. Applied Blockchain | KROGER vs. BigBearai Holdings |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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