Correlation Between Bimini Capital and Blackhawk Growth
Can any of the company-specific risk be diversified away by investing in both Bimini Capital and Blackhawk Growth 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 Bimini Capital and Blackhawk Growth into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bimini Capital Management and Blackhawk Growth Corp, you can compare the effects of market volatilities on Bimini Capital and Blackhawk Growth 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 Bimini Capital with a short position of Blackhawk Growth. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bimini Capital and Blackhawk Growth.
Diversification Opportunities for Bimini Capital and Blackhawk Growth
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Bimini and Blackhawk is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Bimini Capital Management and Blackhawk Growth Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackhawk Growth Corp and Bimini Capital 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 Bimini Capital Management are associated (or correlated) with Blackhawk Growth. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackhawk Growth Corp has no effect on the direction of Bimini Capital i.e., Bimini Capital and Blackhawk Growth go up and down completely randomly.
Pair Corralation between Bimini Capital and Blackhawk Growth
If you would invest 93.00 in Bimini Capital Management on September 1, 2024 and sell it today you would earn a total of 17.00 from holding Bimini Capital Management or generate 18.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Bimini Capital Management vs. Blackhawk Growth Corp
Performance |
| Timeline |
| Bimini Capital Management |
| Blackhawk Growth Corp |
Bimini Capital and Blackhawk Growth Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bimini Capital and Blackhawk Growth
The main advantage of trading using opposite Bimini Capital and Blackhawk Growth positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bimini Capital position performs unexpectedly, Blackhawk Growth 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 Blackhawk Growth will offset losses from the drop in Blackhawk Growth's long position.| Bimini Capital vs. HUMANA INC | Bimini Capital vs. SCOR PK | Bimini Capital vs. Aquagold International | Bimini Capital vs. Thrivent High Yield |
| Blackhawk Growth vs. HUMANA INC | Blackhawk Growth vs. SCOR PK | Blackhawk Growth vs. Aquagold International | Blackhawk Growth vs. Thrivent High Yield |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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