Correlation Between Growthpoint Properties and Bci Best
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By analyzing existing cross correlation between Growthpoint Properties and Bci Best Blend, you can compare the effects of market volatilities on Growthpoint Properties and Bci Best 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 Growthpoint Properties with a short position of Bci Best. Check out your portfolio center. Please also check ongoing floating volatility patterns of Growthpoint Properties and Bci Best.
Diversification Opportunities for Growthpoint Properties and Bci Best
-0.6 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Growthpoint and Bci is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding Growthpoint Properties and Bci Best Blend in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bci Best Blend and Growthpoint Properties 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 Growthpoint Properties are associated (or correlated) with Bci Best. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bci Best Blend has no effect on the direction of Growthpoint Properties i.e., Growthpoint Properties and Bci Best go up and down completely randomly.
Pair Corralation between Growthpoint Properties and Bci Best
Assuming the 90 days trading horizon Growthpoint Properties is expected to under-perform the Bci Best. In addition to that, Growthpoint Properties is 4.7 times more volatile than Bci Best Blend. It trades about -0.06 of its total potential returns per unit of risk. Bci Best Blend is currently generating about 0.13 per unit of volatility. If you would invest 149.00 in Bci Best Blend on September 3, 2024 and sell it today you would earn a total of 1.00 from holding Bci Best Blend or generate 0.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Growthpoint Properties vs. Bci Best Blend
Performance |
| Timeline |
| Growthpoint Properties |
| Bci Best Blend |
Growthpoint Properties and Bci Best Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Growthpoint Properties and Bci Best
The main advantage of trading using opposite Growthpoint Properties and Bci Best positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Growthpoint Properties position performs unexpectedly, Bci Best 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 Bci Best will offset losses from the drop in Bci Best's long position.| Growthpoint Properties vs. Harmony Gold Mining | Growthpoint Properties vs. Astoria Investments | Growthpoint Properties vs. Trematon Capital Investments | Growthpoint Properties vs. RCL Foods |
| Bci Best vs. Sasol Ltd Bee | Bci Best vs. Centaur Bci Balanced | Bci Best vs. Sabvest Capital | Bci Best vs. Growthpoint Properties |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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