Correlation Between BigBearai Holdings and MICROSOFT
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By analyzing existing cross correlation between BigBearai Holdings and MICROSOFT PORATION, you can compare the effects of market volatilities on BigBearai Holdings and MICROSOFT 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 MICROSOFT. Check out your portfolio center. Please also check ongoing floating volatility patterns of BigBearai Holdings and MICROSOFT.
Diversification Opportunities for BigBearai Holdings and MICROSOFT
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between BigBearai and MICROSOFT is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding BigBearai Holdings and MICROSOFT PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MICROSOFT PORATION 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 MICROSOFT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MICROSOFT PORATION has no effect on the direction of BigBearai Holdings i.e., BigBearai Holdings and MICROSOFT go up and down completely randomly.
Pair Corralation between BigBearai Holdings and MICROSOFT
Given the investment horizon of 90 days BigBearai Holdings is expected to generate 10.74 times more return on investment than MICROSOFT. However, BigBearai Holdings is 10.74 times more volatile than MICROSOFT PORATION. It trades about 0.06 of its potential returns per unit of risk. MICROSOFT PORATION is currently generating about 0.02 per unit of risk. If you would invest 73.00 in BigBearai Holdings on September 13, 2024 and sell it today you would earn a total of 201.00 from holding BigBearai Holdings or generate 275.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.18% |
| Values | Daily Returns |
BigBearai Holdings vs. MICROSOFT PORATION
Performance |
| Timeline |
| BigBearai Holdings |
| MICROSOFT PORATION |
BigBearai Holdings and MICROSOFT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BigBearai Holdings and MICROSOFT
The main advantage of trading using opposite BigBearai Holdings and MICROSOFT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BigBearai Holdings position performs unexpectedly, MICROSOFT 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 MICROSOFT will offset losses from the drop in MICROSOFT's long position.| BigBearai Holdings vs. Innodata | BigBearai Holdings vs. CLPS Inc | BigBearai Holdings vs. ARB IOT Group | BigBearai Holdings vs. FiscalNote Holdings |
| MICROSOFT vs. AEP TEX INC | MICROSOFT vs. US BANK NATIONAL | MICROSOFT vs. Applied Blockchain | MICROSOFT 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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