Correlation Between Bridgewater Bancshares and HV Bancorp
Can any of the company-specific risk be diversified away by investing in both Bridgewater Bancshares and HV Bancorp 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 Bridgewater Bancshares and HV Bancorp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bridgewater Bancshares Depositary and HV Bancorp, you can compare the effects of market volatilities on Bridgewater Bancshares and HV Bancorp 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 Bridgewater Bancshares with a short position of HV Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bridgewater Bancshares and HV Bancorp.
Diversification Opportunities for Bridgewater Bancshares and HV Bancorp
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bridgewater and HVBC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bridgewater Bancshares Deposit and HV Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HV Bancorp and Bridgewater Bancshares 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 Bridgewater Bancshares Depositary are associated (or correlated) with HV Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HV Bancorp has no effect on the direction of Bridgewater Bancshares i.e., Bridgewater Bancshares and HV Bancorp go up and down completely randomly.
Pair Corralation between Bridgewater Bancshares and HV Bancorp
If you would invest 1,722 in Bridgewater Bancshares Depositary on November 28, 2024 and sell it today you would earn a total of 215.00 from holding Bridgewater Bancshares Depositary or generate 12.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Bridgewater Bancshares Deposit vs. HV Bancorp
Performance |
| Timeline |
| Bridgewater Bancshares |
| HV Bancorp |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Bridgewater Bancshares and HV Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bridgewater Bancshares and HV Bancorp
The main advantage of trading using opposite Bridgewater Bancshares and HV Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bridgewater Bancshares position performs unexpectedly, HV Bancorp 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 HV Bancorp will offset losses from the drop in HV Bancorp's long position.| Bridgewater Bancshares vs. CNB Financial | Bridgewater Bancshares vs. First Guaranty Bancshares | Bridgewater Bancshares vs. Dime Community Bancshares | Bridgewater Bancshares vs. Brighthouse Financial |
| HV Bancorp vs. Magyar Bancorp | HV Bancorp vs. Home Federal Bancorp | HV Bancorp vs. Community West Bancshares | HV Bancorp vs. Lake Shore Bancorp |
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 CEOs Directory module to screen CEOs from public companies around the world.
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