Correlation Between Grocery Outlet and BPCEGP
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By analyzing existing cross correlation between Grocery Outlet Holding and BPCEGP 2277 20 JAN 32, you can compare the effects of market volatilities on Grocery Outlet and BPCEGP 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 Grocery Outlet with a short position of BPCEGP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Grocery Outlet and BPCEGP.
Diversification Opportunities for Grocery Outlet and BPCEGP
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Grocery and BPCEGP is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Grocery Outlet Holding and BPCEGP 2277 20 JAN 32 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BPCEGP 2277 20 and Grocery Outlet 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 Grocery Outlet Holding are associated (or correlated) with BPCEGP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BPCEGP 2277 20 has no effect on the direction of Grocery Outlet i.e., Grocery Outlet and BPCEGP go up and down completely randomly.
Pair Corralation between Grocery Outlet and BPCEGP
Allowing for the 90-day total investment horizon Grocery Outlet Holding is expected to under-perform the BPCEGP. In addition to that, Grocery Outlet is 2.28 times more volatile than BPCEGP 2277 20 JAN 32. It trades about -0.02 of its total potential returns per unit of risk. BPCEGP 2277 20 JAN 32 is currently generating about 0.03 per unit of volatility. If you would invest 7,518 in BPCEGP 2277 20 JAN 32 on September 14, 2024 and sell it today you would earn a total of 417.00 from holding BPCEGP 2277 20 JAN 32 or generate 5.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 51.82% |
| Values | Daily Returns |
Grocery Outlet Holding vs. BPCEGP 2277 20 JAN 32
Performance |
| Timeline |
| Grocery Outlet Holding |
| BPCEGP 2277 20 |
Grocery Outlet and BPCEGP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Grocery Outlet and BPCEGP
The main advantage of trading using opposite Grocery Outlet and BPCEGP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Grocery Outlet position performs unexpectedly, BPCEGP 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 BPCEGP will offset losses from the drop in BPCEGP's long position.| Grocery Outlet vs. Natural Grocers by | Grocery Outlet vs. Village Super Market | Grocery Outlet vs. Ingles Markets Incorporated | Grocery Outlet vs. Ocado Group plc |
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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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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