Correlation Between Heartbeam and Bullfrog
Can any of the company-specific risk be diversified away by investing in both Heartbeam and Bullfrog 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 Heartbeam and Bullfrog into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Heartbeam and Bullfrog AI Holdings,, you can compare the effects of market volatilities on Heartbeam and Bullfrog 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 Heartbeam with a short position of Bullfrog. Check out your portfolio center. Please also check ongoing floating volatility patterns of Heartbeam and Bullfrog.
Diversification Opportunities for Heartbeam and Bullfrog
Very good diversification
The 3 months correlation between Heartbeam and Bullfrog is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Heartbeam and Bullfrog AI Holdings, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bullfrog AI Holdings, and Heartbeam 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 Heartbeam are associated (or correlated) with Bullfrog. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bullfrog AI Holdings, has no effect on the direction of Heartbeam i.e., Heartbeam and Bullfrog go up and down completely randomly.
Pair Corralation between Heartbeam and Bullfrog
Given the investment horizon of 90 days Heartbeam is expected to generate 36.6 times less return on investment than Bullfrog. But when comparing it to its historical volatility, Heartbeam is 7.9 times less risky than Bullfrog. It trades about 0.01 of its potential returns per unit of risk. Bullfrog AI Holdings, is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 0.00 in Bullfrog AI Holdings, on August 26, 2024 and sell it today you would earn a total of 197.00 from holding Bullfrog AI Holdings, or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 93.16% |
| Values | Daily Returns |
Heartbeam vs. Bullfrog AI Holdings,
Performance |
| Timeline |
| Heartbeam |
| Bullfrog AI Holdings, |
Heartbeam and Bullfrog Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Heartbeam and Bullfrog
The main advantage of trading using opposite Heartbeam and Bullfrog positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Heartbeam position performs unexpectedly, Bullfrog 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 Bullfrog will offset losses from the drop in Bullfrog's long position.| Heartbeam vs. FOXO Technologies | Heartbeam vs. EUDA Health Holdings | Heartbeam vs. Nutex Health | Heartbeam vs. Healthcare Triangle |
| Bullfrog vs. Healthcare Triangle | Bullfrog vs. EUDA Health Holdings | Bullfrog vs. Mangoceuticals, Common Stock | Bullfrog vs. FOXO Technologies |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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