Correlation Between CuriosityStream and Bridgetown Holdings
Can any of the company-specific risk be diversified away by investing in both CuriosityStream and Bridgetown Holdings at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining CuriosityStream and Bridgetown Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CuriosityStream and Bridgetown Holdings, you can compare the effects of market volatilities on CuriosityStream and Bridgetown Holdings 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 CuriosityStream with a short position of Bridgetown Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of CuriosityStream and Bridgetown Holdings.
Diversification Opportunities for CuriosityStream and Bridgetown Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CuriosityStream and Bridgetown is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CuriosityStream and Bridgetown Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bridgetown Holdings and CuriosityStream 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 CuriosityStream are associated (or correlated) with Bridgetown Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bridgetown Holdings has no effect on the direction of CuriosityStream i.e., CuriosityStream and Bridgetown Holdings go up and down completely randomly.
Pair Corralation between CuriosityStream and Bridgetown Holdings
If you would invest 6.40 in CuriosityStream on December 1, 2024 and sell it today you would lose (3.37) from holding CuriosityStream or give up 52.66% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
CuriosityStream vs. Bridgetown Holdings
Performance |
| Timeline |
| CuriosityStream |
| Bridgetown Holdings |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
CuriosityStream and Bridgetown Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CuriosityStream and Bridgetown Holdings
The main advantage of trading using opposite CuriosityStream and Bridgetown Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CuriosityStream position performs unexpectedly, Bridgetown Holdings 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 Bridgetown Holdings will offset losses from the drop in Bridgetown Holdings' long position.| CuriosityStream vs. Eos Energy Enterprises | CuriosityStream vs. CannBioRx Life Sciences | CuriosityStream vs. Advantage Solutions |
| Bridgetown Holdings vs. Aquestive Therapeutics | Bridgetown Holdings vs. Cardinal Health | Bridgetown Holdings vs. Playstudios | Bridgetown Holdings vs. Avadel Pharmaceuticals PLC |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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