Correlation Between Mid-Atlantic Home and BGC
Can any of the company-specific risk be diversified away by investing in both Mid-Atlantic Home and BGC 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 Mid-Atlantic Home and BGC into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mid Atlantic Home Health and BGC Group, you can compare the effects of market volatilities on Mid-Atlantic Home and BGC 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 Mid-Atlantic Home with a short position of BGC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mid-Atlantic Home and BGC.
Diversification Opportunities for Mid-Atlantic Home and BGC
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mid-Atlantic and BGC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mid Atlantic Home Health and BGC Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BGC Group and Mid-Atlantic Home 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 Mid Atlantic Home Health are associated (or correlated) with BGC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BGC Group has no effect on the direction of Mid-Atlantic Home i.e., Mid-Atlantic Home and BGC go up and down completely randomly.
Pair Corralation between Mid-Atlantic Home and BGC
If you would invest 934.00 in BGC Group on August 27, 2024 and sell it today you would earn a total of 26.00 from holding BGC Group or generate 2.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mid Atlantic Home Health vs. BGC Group
Performance |
| Timeline |
| Mid Atlantic Home |
| BGC Group |
Mid-Atlantic Home and BGC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mid-Atlantic Home and BGC
The main advantage of trading using opposite Mid-Atlantic Home and BGC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mid-Atlantic Home position performs unexpectedly, BGC 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 BGC will offset losses from the drop in BGC's long position.| Mid-Atlantic Home vs. IMAC Holdings | Mid-Atlantic Home vs. HCA Holdings | Mid-Atlantic Home vs. HUMANA INC | Mid-Atlantic Home vs. SCOR PK |
| BGC vs. Universal | BGC vs. Mid Atlantic Home Health | BGC vs. Molson Coors Brewing | BGC vs. Bassett Furniture Industries |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |