Correlation Between Marfrig Global and BERKSHIRE
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By analyzing existing cross correlation between Marfrig Global Foods and BERKSHIRE HATHAWAY FIN, you can compare the effects of market volatilities on Marfrig Global and BERKSHIRE 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 Marfrig Global with a short position of BERKSHIRE. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marfrig Global and BERKSHIRE.
Diversification Opportunities for Marfrig Global and BERKSHIRE
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Marfrig and BERKSHIRE is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Marfrig Global Foods and BERKSHIRE HATHAWAY FIN in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BERKSHIRE HATHAWAY FIN and Marfrig Global 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 Marfrig Global Foods are associated (or correlated) with BERKSHIRE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BERKSHIRE HATHAWAY FIN has no effect on the direction of Marfrig Global i.e., Marfrig Global and BERKSHIRE go up and down completely randomly.
Pair Corralation between Marfrig Global and BERKSHIRE
Assuming the 90 days horizon Marfrig Global Foods is expected to generate 2.26 times more return on investment than BERKSHIRE. However, Marfrig Global is 2.26 times more volatile than BERKSHIRE HATHAWAY FIN. It trades about 0.29 of its potential returns per unit of risk. BERKSHIRE HATHAWAY FIN is currently generating about 0.2 per unit of risk. If you would invest 274.00 in Marfrig Global Foods on September 13, 2024 and sell it today you would earn a total of 49.00 from holding Marfrig Global Foods or generate 17.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marfrig Global Foods vs. BERKSHIRE HATHAWAY FIN
Performance |
| Timeline |
| Marfrig Global Foods |
| BERKSHIRE HATHAWAY FIN |
Marfrig Global and BERKSHIRE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marfrig Global and BERKSHIRE
The main advantage of trading using opposite Marfrig Global and BERKSHIRE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marfrig Global position performs unexpectedly, BERKSHIRE 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 BERKSHIRE will offset losses from the drop in BERKSHIRE's long position.| Marfrig Global vs. BRF SA ADR | Marfrig Global vs. Pilgrims Pride Corp | Marfrig Global vs. John B Sanfilippo | Marfrig Global vs. Seneca Foods Corp |
| BERKSHIRE vs. Bridgford Foods | BERKSHIRE vs. Sligro Food Group | BERKSHIRE vs. NetEase | BERKSHIRE vs. Definitive Healthcare Corp |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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