Correlation Between Biglari Holdings and 41283LBA2
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By analyzing existing cross correlation between Biglari Holdings and HOG 305 14 FEB 27, you can compare the effects of market volatilities on Biglari Holdings and 41283LBA2 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 41283LBA2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biglari Holdings and 41283LBA2.
Diversification Opportunities for Biglari Holdings and 41283LBA2
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Biglari and 41283LBA2 is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Biglari Holdings and HOG 305 14 FEB 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HOG 305 14 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 41283LBA2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HOG 305 14 has no effect on the direction of Biglari Holdings i.e., Biglari Holdings and 41283LBA2 go up and down completely randomly.
Pair Corralation between Biglari Holdings and 41283LBA2
Allowing for the 90-day total investment horizon Biglari Holdings is expected to generate 5.54 times more return on investment than 41283LBA2. However, Biglari Holdings is 5.54 times more volatile than HOG 305 14 FEB 27. It trades about 0.06 of its potential returns per unit of risk. HOG 305 14 FEB 27 is currently generating about 0.02 per unit of risk. If you would invest 16,969 in Biglari Holdings on September 12, 2024 and sell it today you would earn a total of 5,891 from holding Biglari Holdings or generate 34.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 50.81% |
| Values | Daily Returns |
Biglari Holdings vs. HOG 305 14 FEB 27
Performance |
| Timeline |
| Biglari Holdings |
| HOG 305 14 |
Biglari Holdings and 41283LBA2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biglari Holdings and 41283LBA2
The main advantage of trading using opposite Biglari Holdings and 41283LBA2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biglari Holdings position performs unexpectedly, 41283LBA2 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 41283LBA2 will offset losses from the drop in 41283LBA2's long position.| Biglari Holdings vs. Noble Romans | Biglari Holdings vs. Good Times Restaurants | Biglari Holdings vs. Flanigans Enterprises | Biglari Holdings vs. FAT Brands |
| 41283LBA2 vs. RCI Hospitality Holdings | 41283LBA2 vs. Pintec Technology Holdings | 41283LBA2 vs. Bt Brands | 41283LBA2 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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