Correlation Between Benson Hill, and CGA Old
Can any of the company-specific risk be diversified away by investing in both Benson Hill, and CGA Old at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Benson Hill, and CGA Old into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Benson Hill, Common and CGA Old, you can compare the effects of market volatilities on Benson Hill, and CGA Old 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 Benson Hill, with a short position of CGA Old. Check out your portfolio center. Please also check ongoing floating volatility patterns of Benson Hill, and CGA Old.
Diversification Opportunities for Benson Hill, and CGA Old
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Benson and CGA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Benson Hill, Common and CGA Old in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CGA Old and Benson Hill, 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 Benson Hill, Common are associated (or correlated) with CGA Old. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CGA Old has no effect on the direction of Benson Hill, i.e., Benson Hill, and CGA Old go up and down completely randomly.
Pair Corralation between Benson Hill, and CGA Old
If you would invest (100.00) in CGA Old on January 10, 2025 and sell it today you would earn a total of 100.00 from holding CGA Old or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Benson Hill, Common vs. CGA Old
Performance |
| Timeline |
| Benson Hill, Common |
| CGA Old |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Benson Hill, and CGA Old Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Benson Hill, and CGA Old
The main advantage of trading using opposite Benson Hill, and CGA Old positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Benson Hill, position performs unexpectedly, CGA Old 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 CGA Old will offset losses from the drop in CGA Old's long position.| Benson Hill, vs. Intrepid Potash | Benson Hill, vs. Bioceres Crop Solutions | Benson Hill, vs. E I du | Benson Hill, vs. FMC Corporation |
| CGA Old vs. KS AG DRC | CGA Old vs. Intrepid Potash | CGA Old vs. Bioceres Crop Solutions | CGA Old vs. American Vanguard |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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