Correlation Between Bullfrog and EUDA Health
Can any of the company-specific risk be diversified away by investing in both Bullfrog and EUDA Health 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 Bullfrog and EUDA Health into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bullfrog AI Holdings, and EUDA Health Holdings, you can compare the effects of market volatilities on Bullfrog and EUDA Health 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 Bullfrog with a short position of EUDA Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bullfrog and EUDA Health.
Diversification Opportunities for Bullfrog and EUDA Health
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Bullfrog and EUDA is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Bullfrog AI Holdings, and EUDA Health Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EUDA Health Holdings and Bullfrog 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 Bullfrog AI Holdings, are associated (or correlated) with EUDA Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EUDA Health Holdings has no effect on the direction of Bullfrog i.e., Bullfrog and EUDA Health go up and down completely randomly.
Pair Corralation between Bullfrog and EUDA Health
Given the investment horizon of 90 days Bullfrog AI Holdings, is expected to under-perform the EUDA Health. But the stock apears to be less risky and, when comparing its historical volatility, Bullfrog AI Holdings, is 1.23 times less risky than EUDA Health. The stock trades about -0.09 of its potential returns per unit of risk. The EUDA Health Holdings is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 445.00 in EUDA Health Holdings on August 24, 2024 and sell it today you would earn a total of 22.00 from holding EUDA Health Holdings or generate 4.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bullfrog AI Holdings, vs. EUDA Health Holdings
Performance |
| Timeline |
| Bullfrog AI Holdings, |
| EUDA Health Holdings |
Bullfrog and EUDA Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bullfrog and EUDA Health
The main advantage of trading using opposite Bullfrog and EUDA Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bullfrog position performs unexpectedly, EUDA Health 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 EUDA Health will offset losses from the drop in EUDA Health's long position.| Bullfrog vs. Healthcare Triangle | Bullfrog vs. EUDA Health Holdings | Bullfrog vs. Mangoceuticals, Common Stock | Bullfrog vs. FOXO Technologies |
| EUDA Health vs. Healthcare Triangle | EUDA Health vs. Bullfrog AI Holdings, | EUDA Health vs. Mangoceuticals, Common Stock | EUDA Health 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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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