Correlation Between Cracker Barrel and FMEGR
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By analyzing existing cross correlation between Cracker Barrel Old and FMEGR 2375 16 FEB 31, you can compare the effects of market volatilities on Cracker Barrel and FMEGR 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 FMEGR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cracker Barrel and FMEGR.
Diversification Opportunities for Cracker Barrel and FMEGR
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cracker and FMEGR is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Cracker Barrel Old and FMEGR 2375 16 FEB 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FMEGR 2375 16 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 FMEGR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FMEGR 2375 16 has no effect on the direction of Cracker Barrel i.e., Cracker Barrel and FMEGR go up and down completely randomly.
Pair Corralation between Cracker Barrel and FMEGR
Given the investment horizon of 90 days Cracker Barrel Old is expected to under-perform the FMEGR. In addition to that, Cracker Barrel is 4.1 times more volatile than FMEGR 2375 16 FEB 31. It trades about -0.02 of its total potential returns per unit of risk. FMEGR 2375 16 FEB 31 is currently generating about 0.05 per unit of volatility. If you would invest 7,347 in FMEGR 2375 16 FEB 31 on November 5, 2024 and sell it today you would earn a total of 993.00 from holding FMEGR 2375 16 FEB 31 or generate 13.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 74.14% |
| Values | Daily Returns |
Cracker Barrel Old vs. FMEGR 2375 16 FEB 31
Performance |
| Timeline |
| Cracker Barrel Old |
| FMEGR 2375 16 |
Cracker Barrel and FMEGR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cracker Barrel and FMEGR
The main advantage of trading using opposite Cracker Barrel and FMEGR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cracker Barrel position performs unexpectedly, FMEGR 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 FMEGR will offset losses from the drop in FMEGR'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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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