Correlation Between BigBearai Holdings and 90331HPL1
Specify exactly 2 symbols:
By analyzing existing cross correlation between BigBearai Holdings and US BANK NATIONAL, you can compare the effects of market volatilities on BigBearai Holdings and 90331HPL1 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 90331HPL1. Check out your portfolio center. Please also check ongoing floating volatility patterns of BigBearai Holdings and 90331HPL1.
Diversification Opportunities for BigBearai Holdings and 90331HPL1
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BigBearai and 90331HPL1 is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding BigBearai Holdings and US BANK NATIONAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US BANK NATIONAL 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 90331HPL1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US BANK NATIONAL has no effect on the direction of BigBearai Holdings i.e., BigBearai Holdings and 90331HPL1 go up and down completely randomly.
Pair Corralation between BigBearai Holdings and 90331HPL1
Given the investment horizon of 90 days BigBearai Holdings is expected to generate 12.74 times more return on investment than 90331HPL1. However, BigBearai Holdings is 12.74 times more volatile than US BANK NATIONAL. It trades about 0.28 of its potential returns per unit of risk. US BANK NATIONAL is currently generating about -0.39 per unit of risk. If you would invest 182.00 in BigBearai Holdings on September 13, 2024 and sell it today you would earn a total of 116.00 from holding BigBearai Holdings or generate 63.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 61.9% |
| Values | Daily Returns |
BigBearai Holdings vs. US BANK NATIONAL
Performance |
| Timeline |
| BigBearai Holdings |
| US BANK NATIONAL |
BigBearai Holdings and 90331HPL1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BigBearai Holdings and 90331HPL1
The main advantage of trading using opposite BigBearai Holdings and 90331HPL1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BigBearai Holdings position performs unexpectedly, 90331HPL1 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 90331HPL1 will offset losses from the drop in 90331HPL1's long position.| BigBearai Holdings vs. Innodata | BigBearai Holdings vs. CLPS Inc | BigBearai Holdings vs. ARB IOT Group | BigBearai Holdings vs. FiscalNote Holdings |
| 90331HPL1 vs. MGIC Investment Corp | 90331HPL1 vs. NI Holdings | 90331HPL1 vs. Vita Coco | 90331HPL1 vs. Fevertree Drinks Plc |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device |