Correlation Between BigBearai Holdings and LOWES
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By analyzing existing cross correlation between BigBearai Holdings and LOWES PANIES INC, you can compare the effects of market volatilities on BigBearai Holdings and LOWES 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 LOWES. Check out your portfolio center. Please also check ongoing floating volatility patterns of BigBearai Holdings and LOWES.
Diversification Opportunities for BigBearai Holdings and LOWES
-0.76 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BigBearai and LOWES is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding BigBearai Holdings and LOWES PANIES INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOWES PANIES INC 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 LOWES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOWES PANIES INC has no effect on the direction of BigBearai Holdings i.e., BigBearai Holdings and LOWES go up and down completely randomly.
Pair Corralation between BigBearai Holdings and LOWES
Given the investment horizon of 90 days BigBearai Holdings is expected to generate 3.42 times more return on investment than LOWES. However, BigBearai Holdings is 3.42 times more volatile than LOWES PANIES INC. It trades about 0.23 of its potential returns per unit of risk. LOWES PANIES INC is currently generating about 0.0 per unit of risk. If you would invest 196.00 in BigBearai Holdings on September 12, 2024 and sell it today you would earn a total of 102.00 from holding BigBearai Holdings or generate 52.04% 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. LOWES PANIES INC
Performance |
| Timeline |
| BigBearai Holdings |
| LOWES PANIES INC |
BigBearai Holdings and LOWES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BigBearai Holdings and LOWES
The main advantage of trading using opposite BigBearai Holdings and LOWES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BigBearai Holdings position performs unexpectedly, LOWES 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 LOWES will offset losses from the drop in LOWES's long position.| BigBearai Holdings vs. Innodata | BigBearai Holdings vs. CLPS Inc | BigBearai Holdings vs. ARB IOT Group | BigBearai Holdings vs. FiscalNote Holdings |
| LOWES vs. AEP TEX INC | LOWES vs. US BANK NATIONAL | LOWES vs. Applied Blockchain | LOWES 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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