Correlation Between Cracker Barrel and 17327CAQ6
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By analyzing existing cross correlation between Cracker Barrel Old and C 3057 25 JAN 33, you can compare the effects of market volatilities on Cracker Barrel and 17327CAQ6 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 17327CAQ6. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cracker Barrel and 17327CAQ6.
Diversification Opportunities for Cracker Barrel and 17327CAQ6
-0.7 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cracker and 17327CAQ6 is -0.7. Overlapping area represents the amount of risk that can be diversified away by holding Cracker Barrel Old and C 3057 25 JAN 33 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C 3057 25 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 17327CAQ6. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C 3057 25 has no effect on the direction of Cracker Barrel i.e., Cracker Barrel and 17327CAQ6 go up and down completely randomly.
Pair Corralation between Cracker Barrel and 17327CAQ6
Given the investment horizon of 90 days Cracker Barrel Old is expected to generate 3.31 times more return on investment than 17327CAQ6. However, Cracker Barrel is 3.31 times more volatile than C 3057 25 JAN 33. It trades about 0.2 of its potential returns per unit of risk. C 3057 25 JAN 33 is currently generating about -0.11 per unit of risk. If you would invest 4,583 in Cracker Barrel Old on September 12, 2024 and sell it today you would earn a total of 621.00 from holding Cracker Barrel Old or generate 13.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Cracker Barrel Old vs. C 3057 25 JAN 33
Performance |
| Timeline |
| Cracker Barrel Old |
| C 3057 25 |
Cracker Barrel and 17327CAQ6 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cracker Barrel and 17327CAQ6
The main advantage of trading using opposite Cracker Barrel and 17327CAQ6 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cracker Barrel position performs unexpectedly, 17327CAQ6 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 17327CAQ6 will offset losses from the drop in 17327CAQ6's long position.| Cracker Barrel vs. Noble Romans | Cracker Barrel vs. Good Times Restaurants | Cracker Barrel vs. Flanigans Enterprises | Cracker Barrel vs. FAT Brands |
| 17327CAQ6 vs. Cracker Barrel Old | 17327CAQ6 vs. Playstudios | 17327CAQ6 vs. Electronic Arts | 17327CAQ6 vs. GameStop 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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