Correlation Between Beyond Meat and BARCLAYS
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By analyzing existing cross correlation between Beyond Meat and BARCLAYS PLC 365, you can compare the effects of market volatilities on Beyond Meat and BARCLAYS 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 Beyond Meat with a short position of BARCLAYS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beyond Meat and BARCLAYS.
Diversification Opportunities for Beyond Meat and BARCLAYS
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Beyond and BARCLAYS is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Beyond Meat and BARCLAYS PLC 365 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BARCLAYS PLC 365 and Beyond Meat 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 Beyond Meat are associated (or correlated) with BARCLAYS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BARCLAYS PLC 365 has no effect on the direction of Beyond Meat i.e., Beyond Meat and BARCLAYS go up and down completely randomly.
Pair Corralation between Beyond Meat and BARCLAYS
Given the investment horizon of 90 days Beyond Meat is expected to under-perform the BARCLAYS. In addition to that, Beyond Meat is 8.13 times more volatile than BARCLAYS PLC 365. It trades about -0.03 of its total potential returns per unit of risk. BARCLAYS PLC 365 is currently generating about -0.01 per unit of volatility. If you would invest 9,724 in BARCLAYS PLC 365 on September 2, 2024 and sell it today you would lose (133.00) from holding BARCLAYS PLC 365 or give up 1.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 93.55% |
| Values | Daily Returns |
Beyond Meat vs. BARCLAYS PLC 365
Performance |
| Timeline |
| Beyond Meat |
| BARCLAYS PLC 365 |
Beyond Meat and BARCLAYS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beyond Meat and BARCLAYS
The main advantage of trading using opposite Beyond Meat and BARCLAYS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beyond Meat position performs unexpectedly, BARCLAYS 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 BARCLAYS will offset losses from the drop in BARCLAYS's long position.| Beyond Meat vs. Kraft Heinz Co | Beyond Meat vs. Hormel Foods | Beyond Meat vs. Kellanova | Beyond Meat vs. General Mills |
| BARCLAYS vs. AEP TEX INC | BARCLAYS vs. US BANK NATIONAL | BARCLAYS vs. American Express | BARCLAYS vs. Chevron Corp |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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