Correlation Between Bullfrog and Trust Stamp
Can any of the company-specific risk be diversified away by investing in both Bullfrog and Trust Stamp 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 Trust Stamp 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 Trust Stamp, you can compare the effects of market volatilities on Bullfrog and Trust Stamp 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 Trust Stamp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bullfrog and Trust Stamp.
Diversification Opportunities for Bullfrog and Trust Stamp
0.03 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Bullfrog and Trust is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding Bullfrog AI Holdings, and Trust Stamp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Trust Stamp 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 Trust Stamp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Trust Stamp has no effect on the direction of Bullfrog i.e., Bullfrog and Trust Stamp go up and down completely randomly.
Pair Corralation between Bullfrog and Trust Stamp
Given the investment horizon of 90 days Bullfrog AI Holdings, is expected to generate 0.54 times more return on investment than Trust Stamp. However, Bullfrog AI Holdings, is 1.87 times less risky than Trust Stamp. It trades about -0.07 of its potential returns per unit of risk. Trust Stamp is currently generating about -0.06 per unit of risk. If you would invest 244.00 in Bullfrog AI Holdings, on August 28, 2024 and sell it today you would lose (22.00) from holding Bullfrog AI Holdings, or give up 9.02% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Bullfrog AI Holdings, vs. Trust Stamp
Performance |
| Timeline |
| Bullfrog AI Holdings, |
| Trust Stamp |
Bullfrog and Trust Stamp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bullfrog and Trust Stamp
The main advantage of trading using opposite Bullfrog and Trust Stamp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bullfrog position performs unexpectedly, Trust Stamp 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 Trust Stamp will offset losses from the drop in Trust Stamp's long position.| Bullfrog vs. Nutex Health | Bullfrog vs. Healthcare Triangle | Bullfrog vs. Mangoceuticals, Common Stock | Bullfrog vs. Aclarion |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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