Correlation Between BigBearai Holdings and MASCO
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By analyzing existing cross correlation between BigBearai Holdings and MASCO P 775, you can compare the effects of market volatilities on BigBearai Holdings and MASCO 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 MASCO. Check out your portfolio center. Please also check ongoing floating volatility patterns of BigBearai Holdings and MASCO.
Diversification Opportunities for BigBearai Holdings and MASCO
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BigBearai and MASCO is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding BigBearai Holdings and MASCO P 775 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MASCO P 775 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 MASCO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MASCO P 775 has no effect on the direction of BigBearai Holdings i.e., BigBearai Holdings and MASCO go up and down completely randomly.
Pair Corralation between BigBearai Holdings and MASCO
Given the investment horizon of 90 days BigBearai Holdings is expected to generate 19.33 times more return on investment than MASCO. However, BigBearai Holdings is 19.33 times more volatile than MASCO P 775. It trades about 0.31 of its potential returns per unit of risk. MASCO P 775 is currently generating about 0.13 per unit of risk. If you would invest 171.00 in BigBearai Holdings on September 14, 2024 and sell it today you would earn a total of 127.00 from holding BigBearai Holdings or generate 74.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BigBearai Holdings vs. MASCO P 775
Performance |
| Timeline |
| BigBearai Holdings |
| MASCO P 775 |
BigBearai Holdings and MASCO Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BigBearai Holdings and MASCO
The main advantage of trading using opposite BigBearai Holdings and MASCO positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BigBearai Holdings position performs unexpectedly, MASCO 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 MASCO will offset losses from the drop in MASCO's long position.| BigBearai Holdings vs. Innodata | BigBearai Holdings vs. CLPS Inc | BigBearai Holdings vs. ARB IOT Group | BigBearai Holdings vs. FiscalNote Holdings |
| MASCO vs. AEP TEX INC | MASCO vs. US BANK NATIONAL | MASCO vs. Applied Blockchain | MASCO 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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