Correlation Between Blackhawk Growth and 3i Group
Can any of the company-specific risk be diversified away by investing in both Blackhawk Growth and 3i Group 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 Blackhawk Growth and 3i Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackhawk Growth Corp and 3i Group plc, you can compare the effects of market volatilities on Blackhawk Growth and 3i Group 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 Blackhawk Growth with a short position of 3i Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackhawk Growth and 3i Group.
Diversification Opportunities for Blackhawk Growth and 3i Group
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Blackhawk and TGOPF is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Blackhawk Growth Corp and 3i Group plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 3i Group plc and Blackhawk Growth 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 Blackhawk Growth Corp are associated (or correlated) with 3i Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 3i Group plc has no effect on the direction of Blackhawk Growth i.e., Blackhawk Growth and 3i Group go up and down completely randomly.
Pair Corralation between Blackhawk Growth and 3i Group
If you would invest 4,012 in 3i Group plc on September 1, 2024 and sell it today you would earn a total of 793.00 from holding 3i Group plc or generate 19.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Blackhawk Growth Corp vs. 3i Group plc
Performance |
| Timeline |
| Blackhawk Growth Corp |
| 3i Group plc |
Blackhawk Growth and 3i Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackhawk Growth and 3i Group
The main advantage of trading using opposite Blackhawk Growth and 3i Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackhawk Growth position performs unexpectedly, 3i Group 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 3i Group will offset losses from the drop in 3i Group's long position.| Blackhawk Growth vs. HUMANA INC | Blackhawk Growth vs. SCOR PK | Blackhawk Growth vs. Aquagold International | Blackhawk Growth vs. Thrivent High Yield |
| 3i Group vs. Blackhawk Growth Corp | 3i Group vs. Guardian Capital Group | 3i Group vs. Flow Capital Corp | 3i Group vs. Princeton Capital |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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