Correlation Between BCB Bancorp and 852234AN3
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By analyzing existing cross correlation between BCB Bancorp and SQ 275 01 JUN 26, you can compare the effects of market volatilities on BCB Bancorp and 852234AN3 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 852234AN3. Check out your portfolio center. Please also check ongoing floating volatility patterns of BCB Bancorp and 852234AN3.
Diversification Opportunities for BCB Bancorp and 852234AN3
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between BCB and 852234AN3 is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding BCB Bancorp and SQ 275 01 JUN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SQ 275 01 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 852234AN3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SQ 275 01 has no effect on the direction of BCB Bancorp i.e., BCB Bancorp and 852234AN3 go up and down completely randomly.
Pair Corralation between BCB Bancorp and 852234AN3
Given the investment horizon of 90 days BCB Bancorp is expected to generate 1.2 times more return on investment than 852234AN3. However, BCB Bancorp is 1.2 times more volatile than SQ 275 01 JUN 26. It trades about 0.25 of its potential returns per unit of risk. SQ 275 01 JUN 26 is currently generating about -0.21 per unit of risk. If you would invest 1,198 in BCB Bancorp on September 1, 2024 and sell it today you would earn a total of 129.00 from holding BCB Bancorp or generate 10.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
BCB Bancorp vs. SQ 275 01 JUN 26
Performance |
| Timeline |
| BCB Bancorp |
| SQ 275 01 |
BCB Bancorp and 852234AN3 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BCB Bancorp and 852234AN3
The main advantage of trading using opposite BCB Bancorp and 852234AN3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BCB Bancorp position performs unexpectedly, 852234AN3 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 852234AN3 will offset losses from the drop in 852234AN3'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 |
| 852234AN3 vs. BCB Bancorp | 852234AN3 vs. Park Ohio Holdings | 852234AN3 vs. Western Union Co | 852234AN3 vs. Univest Pennsylvania |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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