Correlation Between U Haul and Binah Capital
Can any of the company-specific risk be diversified away by investing in both U Haul and Binah Capital 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 U Haul and Binah Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between U Haul Holding and Binah Capital Group,, you can compare the effects of market volatilities on U Haul and Binah Capital 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 U Haul with a short position of Binah Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of U Haul and Binah Capital.
Diversification Opportunities for U Haul and Binah Capital
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between UHAL and Binah is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding U Haul Holding and Binah Capital Group, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Binah Capital Group, and U Haul 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 U Haul Holding are associated (or correlated) with Binah Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Binah Capital Group, has no effect on the direction of U Haul i.e., U Haul and Binah Capital go up and down completely randomly.
Pair Corralation between U Haul and Binah Capital
Given the investment horizon of 90 days U Haul Holding is expected to under-perform the Binah Capital. But the stock apears to be less risky and, when comparing its historical volatility, U Haul Holding is 9.94 times less risky than Binah Capital. The stock trades about -0.11 of its potential returns per unit of risk. The Binah Capital Group, is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 200.00 in Binah Capital Group, on September 4, 2024 and sell it today you would earn a total of 58.00 from holding Binah Capital Group, or generate 29.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
U Haul Holding vs. Binah Capital Group,
Performance |
| Timeline |
| U Haul Holding |
| Binah Capital Group, |
U Haul and Binah Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with U Haul and Binah Capital
The main advantage of trading using opposite U Haul and Binah Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if U Haul position performs unexpectedly, Binah Capital 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 Binah Capital will offset losses from the drop in Binah Capital's long position.| U Haul vs. Air Lease | U Haul vs. HE Equipment Services | U Haul vs. GATX Corporation | U Haul vs. Custom Truck One |
| Binah Capital vs. Visa Class A | Binah Capital vs. Diamond Hill Investment | Binah Capital vs. Associated Capital Group | Binah Capital vs. Brookfield 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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