Correlation Between Cracker Barrel and 268317AQ7
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By analyzing existing cross correlation between Cracker Barrel Old and EDF 495 13 OCT 45, you can compare the effects of market volatilities on Cracker Barrel and 268317AQ7 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 268317AQ7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cracker Barrel and 268317AQ7.
Diversification Opportunities for Cracker Barrel and 268317AQ7
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Cracker and 268317AQ7 is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Cracker Barrel Old and EDF 495 13 OCT 45 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EDF 495 13 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 268317AQ7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EDF 495 13 has no effect on the direction of Cracker Barrel i.e., Cracker Barrel and 268317AQ7 go up and down completely randomly.
Pair Corralation between Cracker Barrel and 268317AQ7
Given the investment horizon of 90 days Cracker Barrel Old is expected to generate 1.42 times more return on investment than 268317AQ7. However, Cracker Barrel is 1.42 times more volatile than EDF 495 13 OCT 45. It trades about 0.28 of its potential returns per unit of risk. EDF 495 13 OCT 45 is currently generating about -0.17 per unit of risk. If you would invest 4,585 in Cracker Barrel Old on September 5, 2024 and sell it today you would earn a total of 986.00 from holding Cracker Barrel Old or generate 21.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 31.82% |
| Values | Daily Returns |
Cracker Barrel Old vs. EDF 495 13 OCT 45
Performance |
| Timeline |
| Cracker Barrel Old |
| EDF 495 13 |
Cracker Barrel and 268317AQ7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cracker Barrel and 268317AQ7
The main advantage of trading using opposite Cracker Barrel and 268317AQ7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cracker Barrel position performs unexpectedly, 268317AQ7 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 268317AQ7 will offset losses from the drop in 268317AQ7's long position.| Cracker Barrel vs. Brinker International | Cracker Barrel vs. BJs Restaurants | Cracker Barrel vs. Texas Roadhouse | Cracker Barrel vs. Papa Johns International |
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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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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