Correlation Between Biglari Holdings and EXELON
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By analyzing existing cross correlation between Biglari Holdings and EXELON GENERATION LLC, you can compare the effects of market volatilities on Biglari Holdings and EXELON 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 EXELON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biglari Holdings and EXELON.
Diversification Opportunities for Biglari Holdings and EXELON
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Biglari and EXELON is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Biglari Holdings and EXELON GENERATION LLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EXELON GENERATION LLC 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 EXELON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EXELON GENERATION LLC has no effect on the direction of Biglari Holdings i.e., Biglari Holdings and EXELON go up and down completely randomly.
Pair Corralation between Biglari Holdings and EXELON
Allowing for the 90-day total investment horizon Biglari Holdings is expected to generate 3.12 times more return on investment than EXELON. However, Biglari Holdings is 3.12 times more volatile than EXELON GENERATION LLC. It trades about 0.12 of its potential returns per unit of risk. EXELON GENERATION LLC is currently generating about 0.0 per unit of risk. If you would invest 17,865 in Biglari Holdings on August 28, 2024 and sell it today you would earn a total of 2,833 from holding Biglari Holdings or generate 15.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Biglari Holdings vs. EXELON GENERATION LLC
Performance |
| Timeline |
| Biglari Holdings |
| EXELON GENERATION LLC |
Biglari Holdings and EXELON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biglari Holdings and EXELON
The main advantage of trading using opposite Biglari Holdings and EXELON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biglari Holdings position performs unexpectedly, EXELON 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 EXELON will offset losses from the drop in EXELON's long position.| Biglari Holdings vs. Cannae Holdings | Biglari Holdings vs. BJs Restaurants | Biglari Holdings vs. Ark Restaurants Corp | Biglari Holdings vs. Noble Romans |
| EXELON vs. AEP TEX INC | EXELON vs. US BANK NATIONAL | EXELON vs. Dupont De Nemours | EXELON vs. The Travelers Companies |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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