Correlation Between Bimini Capital and Winmill Co
Can any of the company-specific risk be diversified away by investing in both Bimini Capital and Winmill Co 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 Winmill Co 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 Winmill Co Incorporated, you can compare the effects of market volatilities on Bimini Capital and Winmill Co 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 Winmill Co. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bimini Capital and Winmill Co.
Diversification Opportunities for Bimini Capital and Winmill Co
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Bimini and Winmill is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Bimini Capital Management and Winmill Co Incorporated in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Winmill Co 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 Winmill Co. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Winmill Co has no effect on the direction of Bimini Capital i.e., Bimini Capital and Winmill Co go up and down completely randomly.
Pair Corralation between Bimini Capital and Winmill Co
If you would invest 85.00 in Bimini Capital Management on August 29, 2024 and sell it today you would earn a total of 23.00 from holding Bimini Capital Management or generate 27.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Bimini Capital Management vs. Winmill Co Incorporated
Performance |
| Timeline |
| Bimini Capital Management |
| Winmill Co |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bimini Capital and Winmill Co Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bimini Capital and Winmill Co
The main advantage of trading using opposite Bimini Capital and Winmill Co positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bimini Capital position performs unexpectedly, Winmill Co 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 Winmill Co will offset losses from the drop in Winmill Co's long position.| Bimini Capital vs. Elysee Development Corp | Bimini Capital vs. Azimut Holding SpA | Bimini Capital vs. Blackhawk Growth Corp | Bimini Capital vs. Ameritrans Capital Corp |
| Winmill Co vs. Virtus Dividend Interest | Winmill Co vs. Central Securities | Winmill Co vs. Aberdeen International | Winmill Co vs. Bimini Capital Management |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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