Correlation Between Science 37 and Bullfrog
Can any of the company-specific risk be diversified away by investing in both Science 37 and Bullfrog 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 Science 37 and Bullfrog into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Science 37 Holdings and Bullfrog AI Holdings,, you can compare the effects of market volatilities on Science 37 and Bullfrog 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 Science 37 with a short position of Bullfrog. Check out your portfolio center. Please also check ongoing floating volatility patterns of Science 37 and Bullfrog.
Diversification Opportunities for Science 37 and Bullfrog
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Science and Bullfrog is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Science 37 Holdings and Bullfrog AI Holdings, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bullfrog AI Holdings, and Science 37 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 Science 37 Holdings are associated (or correlated) with Bullfrog. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bullfrog AI Holdings, has no effect on the direction of Science 37 i.e., Science 37 and Bullfrog go up and down completely randomly.
Pair Corralation between Science 37 and Bullfrog
Given the investment horizon of 90 days Science 37 Holdings is expected to under-perform the Bullfrog. But the stock apears to be less risky and, when comparing its historical volatility, Science 37 Holdings is 5.81 times less risky than Bullfrog. The stock trades about -0.02 of its potential returns per unit of risk. The Bullfrog AI Holdings, is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 0.00 in Bullfrog AI Holdings, on August 26, 2024 and sell it today you would earn a total of 197.00 from holding Bullfrog AI Holdings, or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 34.34% |
| Values | Daily Returns |
Science 37 Holdings vs. Bullfrog AI Holdings,
Performance |
| Timeline |
| Science 37 Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Bullfrog AI Holdings, |
Science 37 and Bullfrog Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Science 37 and Bullfrog
The main advantage of trading using opposite Science 37 and Bullfrog positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Science 37 position performs unexpectedly, Bullfrog 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 Bullfrog will offset losses from the drop in Bullfrog's long position.| Science 37 vs. FOXO Technologies | Science 37 vs. Mangoceuticals, Common Stock | Science 37 vs. Healthcare Triangle | Science 37 vs. EUDA Health Holdings |
| Bullfrog vs. Healthcare Triangle | Bullfrog vs. EUDA Health Holdings | Bullfrog vs. Mangoceuticals, Common Stock | Bullfrog vs. FOXO Technologies |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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