Correlation Between Cracker Barrel and 06738EBU8
Specify exactly 2 symbols:
By analyzing existing cross correlation between Cracker Barrel Old and BACR 2279 24 NOV 27, you can compare the effects of market volatilities on Cracker Barrel and 06738EBU8 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 Cracker Barrel with a short position of 06738EBU8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cracker Barrel and 06738EBU8.
Diversification Opportunities for Cracker Barrel and 06738EBU8
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cracker and 06738EBU8 is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Cracker Barrel Old and BACR 2279 24 NOV 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BACR 2279 24 and Cracker Barrel 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 Cracker Barrel Old are associated (or correlated) with 06738EBU8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BACR 2279 24 has no effect on the direction of Cracker Barrel i.e., Cracker Barrel and 06738EBU8 go up and down completely randomly.
Pair Corralation between Cracker Barrel and 06738EBU8
Given the investment horizon of 90 days Cracker Barrel Old is expected to generate 3.87 times more return on investment than 06738EBU8. However, Cracker Barrel is 3.87 times more volatile than BACR 2279 24 NOV 27. It trades about 0.06 of its potential returns per unit of risk. BACR 2279 24 NOV 27 is currently generating about -0.01 per unit of risk. If you would invest 4,378 in Cracker Barrel Old on September 12, 2024 and sell it today you would earn a total of 826.00 from holding Cracker Barrel Old or generate 18.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 92.74% |
| Values | Daily Returns |
Cracker Barrel Old vs. BACR 2279 24 NOV 27
Performance |
| Timeline |
| Cracker Barrel Old |
| BACR 2279 24 |
Cracker Barrel and 06738EBU8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cracker Barrel and 06738EBU8
The main advantage of trading using opposite Cracker Barrel and 06738EBU8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cracker Barrel position performs unexpectedly, 06738EBU8 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 06738EBU8 will offset losses from the drop in 06738EBU8's long position.| Cracker Barrel vs. Noble Romans | Cracker Barrel vs. Good Times Restaurants | Cracker Barrel vs. Flanigans Enterprises | Cracker Barrel vs. FAT Brands |
| 06738EBU8 vs. AEP TEX INC | 06738EBU8 vs. US BANK NATIONAL | 06738EBU8 vs. Alphabet Inc Class C | 06738EBU8 vs. InMode |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |