Correlation Between My Foodie and BSP Financial
Can any of the company-specific risk be diversified away by investing in both My Foodie and BSP Financial 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 My Foodie and BSP Financial into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between My Foodie Box and BSP Financial Group, you can compare the effects of market volatilities on My Foodie and BSP Financial 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 My Foodie with a short position of BSP Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of My Foodie and BSP Financial.
Diversification Opportunities for My Foodie and BSP Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MBX and BSP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding My Foodie Box and BSP Financial Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BSP Financial Group and My Foodie 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 My Foodie Box are associated (or correlated) with BSP Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BSP Financial Group has no effect on the direction of My Foodie i.e., My Foodie and BSP Financial go up and down completely randomly.
Pair Corralation between My Foodie and BSP Financial
If you would invest 491.00 in BSP Financial Group on September 14, 2024 and sell it today you would earn a total of 158.00 from holding BSP Financial Group or generate 32.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
My Foodie Box vs. BSP Financial Group
Performance |
| Timeline |
| My Foodie Box |
| BSP Financial Group |
My Foodie and BSP Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with My Foodie and BSP Financial
The main advantage of trading using opposite My Foodie and BSP Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if My Foodie position performs unexpectedly, BSP Financial 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 BSP Financial will offset losses from the drop in BSP Financial's long position.| My Foodie vs. Aneka Tambang Tbk | My Foodie vs. Macquarie Group | My Foodie vs. Macquarie Group Ltd | My Foodie vs. Challenger |
| BSP Financial vs. Aneka Tambang Tbk | BSP Financial vs. Commonwealth Bank of | BSP Financial vs. Australia and New | BSP Financial vs. ANZ Group Holdings |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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