Correlation Between Dow Jones and B GRIMM
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By analyzing existing cross correlation between Dow Jones Industrial and B GRIMM POWER, you can compare the effects of market volatilities on Dow Jones and B GRIMM 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 Dow Jones with a short position of B GRIMM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dow Jones and B GRIMM.
Diversification Opportunities for Dow Jones and B GRIMM
Pay attention - limited upside
The 3 months correlation between Dow and BGRIM-R is -0.76. Overlapping area represents the amount of risk that can be diversified away by holding Dow Jones Industrial and B GRIMM POWER in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on B GRIMM POWER and Dow Jones 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 Dow Jones Industrial are associated (or correlated) with B GRIMM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of B GRIMM POWER has no effect on the direction of Dow Jones i.e., Dow Jones and B GRIMM go up and down completely randomly.
Pair Corralation between Dow Jones and B GRIMM
Assuming the 90 days trading horizon Dow Jones Industrial is expected to generate 0.2 times more return on investment than B GRIMM. However, Dow Jones Industrial is 5.05 times less risky than B GRIMM. It trades about 0.12 of its potential returns per unit of risk. B GRIMM POWER is currently generating about -0.04 per unit of risk. If you would invest 3,515,104 in Dow Jones Industrial on September 14, 2024 and sell it today you would earn a total of 876,308 from holding Dow Jones Industrial or generate 24.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 96.64% |
| Values | Daily Returns |
Dow Jones Industrial vs. B GRIMM POWER
Performance |
| Timeline |
Dow Jones and B GRIMM Volatility Contrast
Predicted Return Density |
| Returns |
Dow Jones Industrial
Pair trading matchups for Dow Jones
B GRIMM POWER
Pair trading matchups for B GRIMM
Pair Trading with Dow Jones and B GRIMM
The main advantage of trading using opposite Dow Jones and B GRIMM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dow Jones position performs unexpectedly, B GRIMM 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 B GRIMM will offset losses from the drop in B GRIMM's long position.| Dow Jones vs. Hurco Companies | Dow Jones vs. Tyson Foods | Dow Jones vs. MYR Group | Dow Jones vs. Cannae Holdings |
| B GRIMM vs. BGrimm Power Public | B GRIMM vs. Bangkok Dusit Medical | B GRIMM vs. Electricity Generating Public | B GRIMM vs. PTT Public |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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