Correlation Between BigBearai Holdings and KROGER
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By analyzing existing cross correlation between BigBearai Holdings and KROGER 35 percent, you can compare the effects of market volatilities on BigBearai Holdings 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 BigBearai Holdings with a short position of KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of BigBearai Holdings and KROGER.
Diversification Opportunities for BigBearai Holdings and KROGER
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BigBearai and KROGER is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding BigBearai Holdings 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 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 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 BigBearai Holdings i.e., BigBearai Holdings and KROGER go up and down completely randomly.
Pair Corralation between BigBearai Holdings and KROGER
Given the investment horizon of 90 days BigBearai Holdings is expected to generate 31.63 times more return on investment than KROGER. However, BigBearai Holdings is 31.63 times more volatile than KROGER 35 percent. It trades about 0.06 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 74.00 in BigBearai Holdings on September 12, 2024 and sell it today you would earn a total of 237.00 from holding BigBearai Holdings or generate 320.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.96% |
| Values | Daily Returns |
BigBearai Holdings vs. KROGER 35 percent
Performance |
| Timeline |
| BigBearai Holdings |
| KROGER 35 percent |
BigBearai Holdings and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BigBearai Holdings and KROGER
The main advantage of trading using opposite BigBearai Holdings and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BigBearai Holdings 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.| BigBearai Holdings vs. Innodata | BigBearai Holdings vs. CLPS Inc | BigBearai Holdings vs. ARB IOT Group | BigBearai Holdings vs. FiscalNote Holdings |
| 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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