Correlation Between Brenmiller Energy and Aequi Acquisition
Can any of the company-specific risk be diversified away by investing in both Brenmiller Energy and Aequi Acquisition 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 Brenmiller Energy and Aequi Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brenmiller Energy Ltd and Aequi Acquisition Corp, you can compare the effects of market volatilities on Brenmiller Energy and Aequi Acquisition 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 Brenmiller Energy with a short position of Aequi Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brenmiller Energy and Aequi Acquisition.
Diversification Opportunities for Brenmiller Energy and Aequi Acquisition
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Brenmiller and Aequi is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Brenmiller Energy Ltd and Aequi Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aequi Acquisition Corp and Brenmiller Energy 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 Brenmiller Energy Ltd are associated (or correlated) with Aequi Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aequi Acquisition Corp has no effect on the direction of Brenmiller Energy i.e., Brenmiller Energy and Aequi Acquisition go up and down completely randomly.
Pair Corralation between Brenmiller Energy and Aequi Acquisition
If you would invest 1,040 in Aequi Acquisition Corp on September 14, 2024 and sell it today you would earn a total of 0.00 from holding Aequi Acquisition Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.37% |
| Values | Daily Returns |
Brenmiller Energy Ltd vs. Aequi Acquisition Corp
Performance |
| Timeline |
| Brenmiller Energy |
| Aequi Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Brenmiller Energy and Aequi Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brenmiller Energy and Aequi Acquisition
The main advantage of trading using opposite Brenmiller Energy and Aequi Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brenmiller Energy position performs unexpectedly, Aequi Acquisition 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 Aequi Acquisition will offset losses from the drop in Aequi Acquisition's long position.| Brenmiller Energy vs. Fusion Fuel Green | Brenmiller Energy vs. Fluence Energy | Brenmiller Energy vs. Altus Power | Brenmiller Energy vs. Energy Vault Holdings |
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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