Correlation Between Anheuser Busch and BPCEGP
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By analyzing existing cross correlation between Anheuser Busch Inbev and BPCEGP 2045 19 OCT 27, you can compare the effects of market volatilities on Anheuser Busch and BPCEGP 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 Anheuser Busch with a short position of BPCEGP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anheuser Busch and BPCEGP.
Diversification Opportunities for Anheuser Busch and BPCEGP
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Anheuser and BPCEGP is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Anheuser Busch Inbev and BPCEGP 2045 19 OCT 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BPCEGP 2045 19 and Anheuser Busch 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 Anheuser Busch Inbev are associated (or correlated) with BPCEGP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BPCEGP 2045 19 has no effect on the direction of Anheuser Busch i.e., Anheuser Busch and BPCEGP go up and down completely randomly.
Pair Corralation between Anheuser Busch and BPCEGP
Considering the 90-day investment horizon Anheuser Busch Inbev is expected to generate 0.55 times more return on investment than BPCEGP. However, Anheuser Busch Inbev is 1.8 times less risky than BPCEGP. It trades about -0.04 of its potential returns per unit of risk. BPCEGP 2045 19 OCT 27 is currently generating about -0.04 per unit of risk. If you would invest 6,213 in Anheuser Busch Inbev on September 4, 2024 and sell it today you would lose (799.00) from holding Anheuser Busch Inbev or give up 12.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 14.57% |
| Values | Daily Returns |
Anheuser Busch Inbev vs. BPCEGP 2045 19 OCT 27
Performance |
| Timeline |
| Anheuser Busch Inbev |
| BPCEGP 2045 19 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Anheuser Busch and BPCEGP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anheuser Busch and BPCEGP
The main advantage of trading using opposite Anheuser Busch and BPCEGP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anheuser Busch position performs unexpectedly, BPCEGP 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 BPCEGP will offset losses from the drop in BPCEGP's long position.| Anheuser Busch vs. Boston Beer | Anheuser Busch vs. Molson Coors Beverage | Anheuser Busch vs. Heineken NV | Anheuser Busch vs. Ambev SA ADR |
| BPCEGP vs. Daily Journal Corp | BPCEGP vs. Diageo PLC ADR | BPCEGP vs. Bright Scholar Education | BPCEGP vs. SNDL Inc |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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