Correlation Between Biglari Holdings and 28622HAA9
Specify exactly 2 symbols:
By analyzing existing cross correlation between Biglari Holdings and ELV 49 08 FEB 26, you can compare the effects of market volatilities on Biglari Holdings and 28622HAA9 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 Biglari Holdings with a short position of 28622HAA9. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biglari Holdings and 28622HAA9.
Diversification Opportunities for Biglari Holdings and 28622HAA9
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Biglari and 28622HAA9 is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Biglari Holdings and ELV 49 08 FEB 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ELV 49 08 and Biglari Holdings 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 Biglari Holdings are associated (or correlated) with 28622HAA9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ELV 49 08 has no effect on the direction of Biglari Holdings i.e., Biglari Holdings and 28622HAA9 go up and down completely randomly.
Pair Corralation between Biglari Holdings and 28622HAA9
If you would invest 14,267 in Biglari Holdings on September 1, 2024 and sell it today you would earn a total of 6,776 from holding Biglari Holdings or generate 47.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 89.9% |
| Values | Daily Returns |
Biglari Holdings vs. ELV 49 08 FEB 26
Performance |
| Timeline |
| Biglari Holdings |
| ELV 49 08 |
Biglari Holdings and 28622HAA9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biglari Holdings and 28622HAA9
The main advantage of trading using opposite Biglari Holdings and 28622HAA9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biglari Holdings position performs unexpectedly, 28622HAA9 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 28622HAA9 will offset losses from the drop in 28622HAA9's long position.| Biglari Holdings vs. Cannae Holdings | Biglari Holdings vs. BJs Restaurants | Biglari Holdings vs. Ark Restaurants Corp | Biglari Holdings vs. Noble Romans |
| 28622HAA9 vs. Bt Brands | 28622HAA9 vs. Chipotle Mexican Grill | 28622HAA9 vs. KNOT Offshore Partners | 28622HAA9 vs. Biglari Holdings |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio |