Correlation Between Bullfrog and FOXO Technologies
Can any of the company-specific risk be diversified away by investing in both Bullfrog and FOXO Technologies 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 FOXO Technologies 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 FOXO Technologies, you can compare the effects of market volatilities on Bullfrog and FOXO Technologies 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 FOXO Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bullfrog and FOXO Technologies.
Diversification Opportunities for Bullfrog and FOXO Technologies
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bullfrog and FOXO is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Bullfrog AI Holdings, and FOXO Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FOXO Technologies 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 FOXO Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FOXO Technologies has no effect on the direction of Bullfrog i.e., Bullfrog and FOXO Technologies go up and down completely randomly.
Pair Corralation between Bullfrog and FOXO Technologies
Given the investment horizon of 90 days Bullfrog AI Holdings, is expected to generate 2.03 times more return on investment than FOXO Technologies. However, Bullfrog is 2.03 times more volatile than FOXO Technologies. It trades about 0.05 of its potential returns per unit of risk. FOXO Technologies is currently generating about 0.03 per unit of risk. 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 | 93.91% |
| Values | Daily Returns |
Bullfrog AI Holdings, vs. FOXO Technologies
Performance |
| Timeline |
| Bullfrog AI Holdings, |
| FOXO Technologies |
Bullfrog and FOXO Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bullfrog and FOXO Technologies
The main advantage of trading using opposite Bullfrog and FOXO Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bullfrog position performs unexpectedly, FOXO Technologies 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 FOXO Technologies will offset losses from the drop in FOXO Technologies' long position.| Bullfrog vs. Healthcare Triangle | Bullfrog vs. EUDA Health Holdings | Bullfrog vs. Mangoceuticals, Common Stock | Bullfrog vs. FOXO Technologies |
| FOXO Technologies vs. Heartbeam | FOXO Technologies vs. EUDA Health Holdings | FOXO Technologies vs. Nutex Health | FOXO Technologies vs. Healthcare Triangle |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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