Correlation Between Bt Brands and KROGER
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By analyzing existing cross correlation between Bt Brands and KROGER 445 percent, you can compare the effects of market volatilities on Bt Brands and KROGER 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 Bt Brands with a short position of KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bt Brands and KROGER.
Diversification Opportunities for Bt Brands and KROGER
Good diversification
The 3 months correlation between BTBD and KROGER is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Bt Brands and KROGER 445 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER 445 percent and Bt Brands 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 Bt Brands are associated (or correlated) with KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER 445 percent has no effect on the direction of Bt Brands i.e., Bt Brands and KROGER go up and down completely randomly.
Pair Corralation between Bt Brands and KROGER
Given the investment horizon of 90 days Bt Brands is expected to under-perform the KROGER. In addition to that, Bt Brands is 3.95 times more volatile than KROGER 445 percent. It trades about -0.07 of its total potential returns per unit of risk. KROGER 445 percent is currently generating about 0.13 per unit of volatility. If you would invest 8,464 in KROGER 445 percent on August 31, 2024 and sell it today you would earn a total of 198.00 from holding KROGER 445 percent or generate 2.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 78.26% |
| Values | Daily Returns |
Bt Brands vs. KROGER 445 percent
Performance |
| Timeline |
| Bt Brands |
| KROGER 445 percent |
Bt Brands and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bt Brands and KROGER
The main advantage of trading using opposite Bt Brands and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bt Brands position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.| Bt Brands vs. RLJ Lodging Trust | Bt Brands vs. Aquagold International | Bt Brands vs. Stepstone Group | Bt Brands vs. Morningstar Unconstrained Allocation |
| KROGER vs. Yuexiu Transport Infrastructure | KROGER vs. Dominos Pizza | KROGER vs. BJs Restaurants | KROGER vs. Bt Brands |
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 Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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