Correlation Between Eat Beyond and CAPITAL
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By analyzing existing cross correlation between Eat Beyond Global and CAPITAL ONE FINANCIAL, you can compare the effects of market volatilities on Eat Beyond and CAPITAL 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 Eat Beyond with a short position of CAPITAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eat Beyond and CAPITAL.
Diversification Opportunities for Eat Beyond and CAPITAL
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Eat and CAPITAL is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Eat Beyond Global and CAPITAL ONE FINANCIAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CAPITAL ONE FINANCIAL and Eat Beyond 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 Eat Beyond Global are associated (or correlated) with CAPITAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CAPITAL ONE FINANCIAL has no effect on the direction of Eat Beyond i.e., Eat Beyond and CAPITAL go up and down completely randomly.
Pair Corralation between Eat Beyond and CAPITAL
Assuming the 90 days horizon Eat Beyond Global is expected to generate 49.84 times more return on investment than CAPITAL. However, Eat Beyond is 49.84 times more volatile than CAPITAL ONE FINANCIAL. It trades about 0.22 of its potential returns per unit of risk. CAPITAL ONE FINANCIAL is currently generating about -0.25 per unit of risk. If you would invest 4.10 in Eat Beyond Global on August 28, 2024 and sell it today you would earn a total of 5.30 from holding Eat Beyond Global or generate 129.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Eat Beyond Global vs. CAPITAL ONE FINANCIAL
Performance |
| Timeline |
| Eat Beyond Global |
| CAPITAL ONE FINANCIAL |
Eat Beyond and CAPITAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eat Beyond and CAPITAL
The main advantage of trading using opposite Eat Beyond and CAPITAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eat Beyond position performs unexpectedly, CAPITAL 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 CAPITAL will offset losses from the drop in CAPITAL's long position.| Eat Beyond vs. Elysee Development Corp | Eat Beyond vs. Azimut Holding SpA | Eat Beyond vs. Ameritrans Capital Corp | Eat Beyond vs. Aimia Inc |
| CAPITAL vs. AEP TEX INC | CAPITAL vs. US BANK NATIONAL | CAPITAL vs. Eat Beyond Global | CAPITAL vs. Charles Schwab 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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