Correlation Between BigBearai Holdings and AMERICAN
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By analyzing existing cross correlation between BigBearai Holdings and AMERICAN TOWER P, you can compare the effects of market volatilities on BigBearai Holdings and AMERICAN 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 BigBearai Holdings with a short position of AMERICAN. Check out your portfolio center. Please also check ongoing floating volatility patterns of BigBearai Holdings and AMERICAN.
Diversification Opportunities for BigBearai Holdings and AMERICAN
-0.75 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BigBearai and AMERICAN is -0.75. Overlapping area represents the amount of risk that can be diversified away by holding BigBearai Holdings and AMERICAN TOWER P in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMERICAN TOWER P and BigBearai Holdings 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 BigBearai Holdings are associated (or correlated) with AMERICAN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMERICAN TOWER P has no effect on the direction of BigBearai Holdings i.e., BigBearai Holdings and AMERICAN go up and down completely randomly.
Pair Corralation between BigBearai Holdings and AMERICAN
Given the investment horizon of 90 days BigBearai Holdings is expected to generate 20.63 times more return on investment than AMERICAN. However, BigBearai Holdings is 20.63 times more volatile than AMERICAN TOWER P. It trades about 0.22 of its potential returns per unit of risk. AMERICAN TOWER P is currently generating about -0.19 per unit of risk. If you would invest 173.00 in BigBearai Holdings on September 15, 2024 and sell it today you would earn a total of 79.00 from holding BigBearai Holdings or generate 45.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
BigBearai Holdings vs. AMERICAN TOWER P
Performance |
| Timeline |
| BigBearai Holdings |
| AMERICAN TOWER P |
BigBearai Holdings and AMERICAN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BigBearai Holdings and AMERICAN
The main advantage of trading using opposite BigBearai Holdings and AMERICAN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BigBearai Holdings position performs unexpectedly, AMERICAN 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 AMERICAN will offset losses from the drop in AMERICAN's long position.| BigBearai Holdings vs. Innodata | BigBearai Holdings vs. CLPS Inc | BigBearai Holdings vs. ARB IOT Group | BigBearai Holdings vs. FiscalNote Holdings |
| AMERICAN vs. AEP TEX INC | AMERICAN vs. US BANK NATIONAL | AMERICAN vs. Applied Blockchain | AMERICAN 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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