Correlation Between BPCEGP and 00108WAF7
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By analyzing existing cross correlation between BPCEGP 4625 12 SEP 28 and AEP TEX INC, you can compare the effects of market volatilities on BPCEGP and 00108WAF7 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 BPCEGP with a short position of 00108WAF7. Check out your portfolio center. Please also check ongoing floating volatility patterns of BPCEGP and 00108WAF7.
Diversification Opportunities for BPCEGP and 00108WAF7
Good diversification
The 3 months correlation between BPCEGP and 00108WAF7 is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding BPCEGP 4625 12 SEP 28 and AEP TEX INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEP TEX INC and BPCEGP 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 BPCEGP 4625 12 SEP 28 are associated (or correlated) with 00108WAF7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEP TEX INC has no effect on the direction of BPCEGP i.e., BPCEGP and 00108WAF7 go up and down completely randomly.
Pair Corralation between BPCEGP and 00108WAF7
Assuming the 90 days trading horizon BPCEGP 4625 12 SEP 28 is expected to generate 0.52 times more return on investment than 00108WAF7. However, BPCEGP 4625 12 SEP 28 is 1.91 times less risky than 00108WAF7. It trades about 0.22 of its potential returns per unit of risk. AEP TEX INC is currently generating about -0.05 per unit of risk. If you would invest 9,233 in BPCEGP 4625 12 SEP 28 on August 31, 2024 and sell it today you would earn a total of 419.00 from holding BPCEGP 4625 12 SEP 28 or generate 4.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 60.0% |
| Values | Daily Returns |
BPCEGP 4625 12 SEP 28 vs. AEP TEX INC
Performance |
| Timeline |
| BPCEGP 4625 12 |
| AEP TEX INC |
BPCEGP and 00108WAF7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BPCEGP and 00108WAF7
The main advantage of trading using opposite BPCEGP and 00108WAF7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BPCEGP position performs unexpectedly, 00108WAF7 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 00108WAF7 will offset losses from the drop in 00108WAF7's long position.| BPCEGP vs. Siriuspoint | BPCEGP vs. Freedom Bank of | BPCEGP vs. Independence Realty Trust | BPCEGP vs. Barings BDC |
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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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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