Correlation Between BigBearai Holdings and GEORGETOWN
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By analyzing existing cross correlation between BigBearai Holdings and GEORGETOWN UNIV 4315, you can compare the effects of market volatilities on BigBearai Holdings and GEORGETOWN 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 GEORGETOWN. Check out your portfolio center. Please also check ongoing floating volatility patterns of BigBearai Holdings and GEORGETOWN.
Diversification Opportunities for BigBearai Holdings and GEORGETOWN
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between BigBearai and GEORGETOWN is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding BigBearai Holdings and GEORGETOWN UNIV 4315 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GEORGETOWN UNIV 4315 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 GEORGETOWN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GEORGETOWN UNIV 4315 has no effect on the direction of BigBearai Holdings i.e., BigBearai Holdings and GEORGETOWN go up and down completely randomly.
Pair Corralation between BigBearai Holdings and GEORGETOWN
Given the investment horizon of 90 days BigBearai Holdings is expected to generate 3.23 times more return on investment than GEORGETOWN. However, BigBearai Holdings is 3.23 times more volatile than GEORGETOWN UNIV 4315. It trades about 0.17 of its potential returns per unit of risk. GEORGETOWN UNIV 4315 is currently generating about -0.06 per unit of risk. If you would invest 155.00 in BigBearai Holdings on September 12, 2024 and sell it today you would earn a total of 143.00 from holding BigBearai Holdings or generate 92.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 39.06% |
| Values | Daily Returns |
BigBearai Holdings vs. GEORGETOWN UNIV 4315
Performance |
| Timeline |
| BigBearai Holdings |
| GEORGETOWN UNIV 4315 |
BigBearai Holdings and GEORGETOWN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BigBearai Holdings and GEORGETOWN
The main advantage of trading using opposite BigBearai Holdings and GEORGETOWN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BigBearai Holdings position performs unexpectedly, GEORGETOWN 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 GEORGETOWN will offset losses from the drop in GEORGETOWN's long position.| BigBearai Holdings vs. Innodata | BigBearai Holdings vs. CLPS Inc | BigBearai Holdings vs. ARB IOT Group | BigBearai Holdings vs. FiscalNote Holdings |
| GEORGETOWN vs. Inflection Point Acquisition | GEORGETOWN vs. Boston Omaha Corp | GEORGETOWN vs. Chester Mining | GEORGETOWN vs. Aldel Financial II |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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