Correlation Between Biglari Holdings and H3698DDR2
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By analyzing existing cross correlation between Biglari Holdings and CS 6373 15 JUL 26, you can compare the effects of market volatilities on Biglari Holdings and H3698DDR2 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 H3698DDR2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biglari Holdings and H3698DDR2.
Diversification Opportunities for Biglari Holdings and H3698DDR2
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Biglari and H3698DDR2 is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Biglari Holdings and CS 6373 15 JUL 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CS 6373 15 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 H3698DDR2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CS 6373 15 has no effect on the direction of Biglari Holdings i.e., Biglari Holdings and H3698DDR2 go up and down completely randomly.
Pair Corralation between Biglari Holdings and H3698DDR2
Allowing for the 90-day total investment horizon Biglari Holdings is expected to under-perform the H3698DDR2. In addition to that, Biglari Holdings is 1.33 times more volatile than CS 6373 15 JUL 26. It trades about -0.32 of its total potential returns per unit of risk. CS 6373 15 JUL 26 is currently generating about -0.15 per unit of volatility. If you would invest 10,075 in CS 6373 15 JUL 26 on October 22, 2024 and sell it today you would lose (362.00) from holding CS 6373 15 JUL 26 or give up 3.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 68.42% |
| Values | Daily Returns |
Biglari Holdings vs. CS 6373 15 JUL 26
Performance |
| Timeline |
| Biglari Holdings |
| CS 6373 15 |
Biglari Holdings and H3698DDR2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biglari Holdings and H3698DDR2
The main advantage of trading using opposite Biglari Holdings and H3698DDR2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biglari Holdings position performs unexpectedly, H3698DDR2 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 H3698DDR2 will offset losses from the drop in H3698DDR2's long position.| Biglari Holdings vs. Cannae Holdings | Biglari Holdings vs. BJs Restaurants | Biglari Holdings vs. Ark Restaurants Corp | Biglari Holdings vs. Noble Romans |
| H3698DDR2 vs. Lizhan Environmental | H3698DDR2 vs. CECO Environmental Corp | H3698DDR2 vs. Insteel Industries | H3698DDR2 vs. Ironveld Plc |
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.
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