Correlation Between Nasdaq and B GRIMM
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By analyzing existing cross correlation between Nasdaq Inc and B GRIMM POWER, you can compare the effects of market volatilities on Nasdaq and B GRIMM 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 Nasdaq with a short position of B GRIMM. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nasdaq and B GRIMM.
Diversification Opportunities for Nasdaq and B GRIMM
Pay attention - limited upside
The 3 months correlation between Nasdaq and BGRIM-R is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq Inc and B GRIMM POWER in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on B GRIMM POWER and Nasdaq 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 Nasdaq Inc are associated (or correlated) with B GRIMM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of B GRIMM POWER has no effect on the direction of Nasdaq i.e., Nasdaq and B GRIMM go up and down completely randomly.
Pair Corralation between Nasdaq and B GRIMM
Given the investment horizon of 90 days Nasdaq Inc is expected to generate 0.1 times more return on investment than B GRIMM. However, Nasdaq Inc is 9.67 times less risky than B GRIMM. It trades about 0.08 of its potential returns per unit of risk. B GRIMM POWER is currently generating about -0.21 per unit of risk. If you would invest 7,963 in Nasdaq Inc on September 14, 2024 and sell it today you would earn a total of 124.00 from holding Nasdaq Inc or generate 1.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Nasdaq Inc vs. B GRIMM POWER
Performance |
| Timeline |
| Nasdaq Inc |
| B GRIMM POWER |
Nasdaq and B GRIMM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nasdaq and B GRIMM
The main advantage of trading using opposite Nasdaq and B GRIMM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nasdaq position performs unexpectedly, B GRIMM 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 B GRIMM will offset losses from the drop in B GRIMM's long position.The idea behind Nasdaq Inc and B GRIMM POWER pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| B GRIMM vs. BGrimm Power Public | B GRIMM vs. Bangkok Dusit Medical | B GRIMM vs. Electricity Generating Public | B GRIMM vs. PTT Public |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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