Correlation Between Freedom Holding and SHBASS
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By analyzing existing cross correlation between Freedom Holding Corp and SHBASS 365 10 JUN 25, you can compare the effects of market volatilities on Freedom Holding and SHBASS 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 Freedom Holding with a short position of SHBASS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Freedom Holding and SHBASS.
Diversification Opportunities for Freedom Holding and SHBASS
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Freedom and SHBASS is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Freedom Holding Corp and SHBASS 365 10 JUN 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SHBASS 365 10 and Freedom Holding 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 Freedom Holding Corp are associated (or correlated) with SHBASS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SHBASS 365 10 has no effect on the direction of Freedom Holding i.e., Freedom Holding and SHBASS go up and down completely randomly.
Pair Corralation between Freedom Holding and SHBASS
Given the investment horizon of 90 days Freedom Holding Corp is expected to generate 0.79 times more return on investment than SHBASS. However, Freedom Holding Corp is 1.26 times less risky than SHBASS. It trades about 0.36 of its potential returns per unit of risk. SHBASS 365 10 JUN 25 is currently generating about -0.18 per unit of risk. If you would invest 10,459 in Freedom Holding Corp on September 5, 2024 and sell it today you would earn a total of 1,498 from holding Freedom Holding Corp or generate 14.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 22.73% |
| Values | Daily Returns |
Freedom Holding Corp vs. SHBASS 365 10 JUN 25
Performance |
| Timeline |
| Freedom Holding Corp |
| SHBASS 365 10 |
Freedom Holding and SHBASS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Freedom Holding and SHBASS
The main advantage of trading using opposite Freedom Holding and SHBASS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Freedom Holding position performs unexpectedly, SHBASS 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 SHBASS will offset losses from the drop in SHBASS's long position.| Freedom Holding vs. Applied Blockchain | Freedom Holding vs. Hut 8 Corp | Freedom Holding vs. Bitfarms | Freedom Holding vs. Evercore Partners |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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