Correlation Between BigBearai Holdings and SIMON
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By analyzing existing cross correlation between BigBearai Holdings and SIMON PROPERTY GROUP, you can compare the effects of market volatilities on BigBearai Holdings and SIMON 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 SIMON. Check out your portfolio center. Please also check ongoing floating volatility patterns of BigBearai Holdings and SIMON.
Diversification Opportunities for BigBearai Holdings and SIMON
-0.8 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BigBearai and SIMON is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding BigBearai Holdings and SIMON PROPERTY GROUP in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIMON PROPERTY GROUP 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 SIMON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIMON PROPERTY GROUP has no effect on the direction of BigBearai Holdings i.e., BigBearai Holdings and SIMON go up and down completely randomly.
Pair Corralation between BigBearai Holdings and SIMON
Given the investment horizon of 90 days BigBearai Holdings is expected to generate 11.28 times more return on investment than SIMON. However, BigBearai Holdings is 11.28 times more volatile than SIMON PROPERTY GROUP. It trades about 0.07 of its potential returns per unit of risk. SIMON PROPERTY GROUP is currently generating about 0.01 per unit of risk. If you would invest 138.00 in BigBearai Holdings on September 12, 2024 and sell it today you would earn a total of 173.00 from holding BigBearai Holdings or generate 125.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 99.09% |
| Values | Daily Returns |
BigBearai Holdings vs. SIMON PROPERTY GROUP
Performance |
| Timeline |
| BigBearai Holdings |
| SIMON PROPERTY GROUP |
BigBearai Holdings and SIMON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BigBearai Holdings and SIMON
The main advantage of trading using opposite BigBearai Holdings and SIMON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BigBearai Holdings position performs unexpectedly, SIMON 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 SIMON will offset losses from the drop in SIMON's long position.| BigBearai Holdings vs. Innodata | BigBearai Holdings vs. CLPS Inc | BigBearai Holdings vs. ARB IOT Group | BigBearai Holdings vs. FiscalNote Holdings |
| SIMON vs. AEP TEX INC | SIMON vs. US BANK NATIONAL | SIMON vs. Applied Blockchain | SIMON 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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