Correlation Between BigBearai Holdings and HALLIBURTON
Specify exactly 2 symbols:
By analyzing existing cross correlation between BigBearai Holdings and HALLIBURTON 475 percent, you can compare the effects of market volatilities on BigBearai Holdings and HALLIBURTON 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 HALLIBURTON. Check out your portfolio center. Please also check ongoing floating volatility patterns of BigBearai Holdings and HALLIBURTON.
Diversification Opportunities for BigBearai Holdings and HALLIBURTON
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between BigBearai and HALLIBURTON is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding BigBearai Holdings and HALLIBURTON 475 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HALLIBURTON 475 percent 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 HALLIBURTON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HALLIBURTON 475 percent has no effect on the direction of BigBearai Holdings i.e., BigBearai Holdings and HALLIBURTON go up and down completely randomly.
Pair Corralation between BigBearai Holdings and HALLIBURTON
Given the investment horizon of 90 days BigBearai Holdings is expected to generate 7.77 times more return on investment than HALLIBURTON. However, BigBearai Holdings is 7.77 times more volatile than HALLIBURTON 475 percent. It trades about 0.06 of its potential returns per unit of risk. HALLIBURTON 475 percent is currently generating about -0.03 per unit of risk. If you would invest 178.00 in BigBearai Holdings on September 12, 2024 and sell it today you would earn a total of 120.00 from holding BigBearai Holdings or generate 67.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 96.37% |
| Values | Daily Returns |
BigBearai Holdings vs. HALLIBURTON 475 percent
Performance |
| Timeline |
| BigBearai Holdings |
| HALLIBURTON 475 percent |
BigBearai Holdings and HALLIBURTON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BigBearai Holdings and HALLIBURTON
The main advantage of trading using opposite BigBearai Holdings and HALLIBURTON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BigBearai Holdings position performs unexpectedly, HALLIBURTON 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 HALLIBURTON will offset losses from the drop in HALLIBURTON's long position.| BigBearai Holdings vs. Innodata | BigBearai Holdings vs. CLPS Inc | BigBearai Holdings vs. ARB IOT Group | BigBearai Holdings vs. FiscalNote Holdings |
| HALLIBURTON vs. AEP TEX INC | HALLIBURTON vs. US BANK NATIONAL | HALLIBURTON vs. Applied Blockchain | HALLIBURTON 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |