Correlation Between Just Kitchen and Bagger Daves
Can any of the company-specific risk be diversified away by investing in both Just Kitchen and Bagger Daves at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Just Kitchen and Bagger Daves into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Just Kitchen Holdings and Bagger Daves Burger, you can compare the effects of market volatilities on Just Kitchen and Bagger Daves 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 Just Kitchen with a short position of Bagger Daves. Check out your portfolio center. Please also check ongoing floating volatility patterns of Just Kitchen and Bagger Daves.
Diversification Opportunities for Just Kitchen and Bagger Daves
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Just and Bagger is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Just Kitchen Holdings and Bagger Daves Burger in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bagger Daves Burger and Just Kitchen 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 Just Kitchen Holdings are associated (or correlated) with Bagger Daves. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bagger Daves Burger has no effect on the direction of Just Kitchen i.e., Just Kitchen and Bagger Daves go up and down completely randomly.
Pair Corralation between Just Kitchen and Bagger Daves
If you would invest (100.00) in Just Kitchen Holdings on January 14, 2025 and sell it today you would earn a total of 100.00 from holding Just Kitchen Holdings or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Just Kitchen Holdings vs. Bagger Daves Burger
Performance |
| Timeline |
| Just Kitchen Holdings |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Bagger Daves Burger |
Just Kitchen and Bagger Daves Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Just Kitchen and Bagger Daves
The main advantage of trading using opposite Just Kitchen and Bagger Daves positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Just Kitchen position performs unexpectedly, Bagger Daves 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 Bagger Daves will offset losses from the drop in Bagger Daves' long position.| Just Kitchen vs. Alsea SAB de | Just Kitchen vs. Marstons PLC | Just Kitchen vs. Bagger Daves Burger | Just Kitchen vs. Marstons PLC |
| Bagger Daves vs. McDonalds | Bagger Daves vs. Starbucks | Bagger Daves vs. Chipotle Mexican Grill | Bagger Daves vs. Compass Group PLC |
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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