Correlation Between B GRIMM and BGrimm Power
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By analyzing existing cross correlation between B GRIMM POWER and BGrimm Power Public, you can compare the effects of market volatilities on B GRIMM and BGrimm Power 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 B GRIMM with a short position of BGrimm Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of B GRIMM and BGrimm Power.
Diversification Opportunities for B GRIMM and BGrimm Power
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BGRIM-R and BGrimm is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding B GRIMM POWER and BGrimm Power Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BGrimm Power Public and B GRIMM 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 B GRIMM POWER are associated (or correlated) with BGrimm Power. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BGrimm Power Public has no effect on the direction of B GRIMM i.e., B GRIMM and BGrimm Power go up and down completely randomly.
Pair Corralation between B GRIMM and BGrimm Power
Assuming the 90 days trading horizon B GRIMM POWER is expected to under-perform the BGrimm Power. In addition to that, B GRIMM is 7.26 times more volatile than BGrimm Power Public. It trades about -0.2 of its total potential returns per unit of risk. BGrimm Power Public is currently generating about 0.06 per unit of volatility. If you would invest 2,050 in BGrimm Power Public on September 13, 2024 and sell it today you would earn a total of 30.00 from holding BGrimm Power Public or generate 1.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
B GRIMM POWER vs. BGrimm Power Public
Performance |
| Timeline |
| B GRIMM POWER |
| BGrimm Power Public |
B GRIMM and BGrimm Power Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with B GRIMM and BGrimm Power
The main advantage of trading using opposite B GRIMM and BGrimm Power positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if B GRIMM position performs unexpectedly, BGrimm Power 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 BGrimm Power will offset losses from the drop in BGrimm Power's long position.| B GRIMM vs. BGrimm Power Public | B GRIMM vs. Bangkok Dusit Medical | B GRIMM vs. Electricity Generating Public | B GRIMM vs. PTT Public |
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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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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