Correlation Between BCB Bancorp and Genesis Growth
Can any of the company-specific risk be diversified away by investing in both BCB Bancorp and Genesis Growth at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining BCB Bancorp and Genesis Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BCB Bancorp and Genesis Growth Tech, you can compare the effects of market volatilities on BCB Bancorp and Genesis Growth 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 BCB Bancorp with a short position of Genesis Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of BCB Bancorp and Genesis Growth.
Diversification Opportunities for BCB Bancorp and Genesis Growth
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BCB and Genesis is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BCB Bancorp and Genesis Growth Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genesis Growth Tech and BCB Bancorp 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 BCB Bancorp are associated (or correlated) with Genesis Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genesis Growth Tech has no effect on the direction of BCB Bancorp i.e., BCB Bancorp and Genesis Growth go up and down completely randomly.
Pair Corralation between BCB Bancorp and Genesis Growth
If you would invest 992.00 in BCB Bancorp on December 2, 2024 and sell it today you would earn a total of 21.00 from holding BCB Bancorp or generate 2.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
BCB Bancorp vs. Genesis Growth Tech
Performance |
| Timeline |
| BCB Bancorp |
| Genesis Growth Tech |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
BCB Bancorp and Genesis Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BCB Bancorp and Genesis Growth
The main advantage of trading using opposite BCB Bancorp and Genesis Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BCB Bancorp position performs unexpectedly, Genesis Growth 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 Genesis Growth will offset losses from the drop in Genesis Growth's long position.| BCB Bancorp vs. Provident Financial Services | BCB Bancorp vs. First Mid Illinois | BCB Bancorp vs. ConnectOne Bancorp | BCB Bancorp vs. Finward Bancorp |
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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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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