Correlation Between Aquagold International and Bancroft Fund
Can any of the company-specific risk be diversified away by investing in both Aquagold International and Bancroft Fund 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 Aquagold International and Bancroft Fund into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aquagold International and Bancroft Fund Limited, you can compare the effects of market volatilities on Aquagold International and Bancroft Fund 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 Aquagold International with a short position of Bancroft Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aquagold International and Bancroft Fund.
Diversification Opportunities for Aquagold International and Bancroft Fund
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Aquagold and Bancroft is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Aquagold International and Bancroft Fund Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bancroft Fund Limited and Aquagold International 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 Aquagold International are associated (or correlated) with Bancroft Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bancroft Fund Limited has no effect on the direction of Aquagold International i.e., Aquagold International and Bancroft Fund go up and down completely randomly.
Pair Corralation between Aquagold International and Bancroft Fund
If you would invest 1,651 in Bancroft Fund Limited on September 1, 2024 and sell it today you would earn a total of 188.00 from holding Bancroft Fund Limited or generate 11.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aquagold International vs. Bancroft Fund Limited
Performance |
| Timeline |
| Aquagold International |
| Bancroft Fund Limited |
Aquagold International and Bancroft Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aquagold International and Bancroft Fund
The main advantage of trading using opposite Aquagold International and Bancroft Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aquagold International position performs unexpectedly, Bancroft Fund 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 Bancroft Fund will offset losses from the drop in Bancroft Fund's long position.| Aquagold International vs. PepsiCo | Aquagold International vs. Coca Cola Consolidated | Aquagold International vs. Monster Beverage Corp | Aquagold International vs. Celsius Holdings |
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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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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