Correlation Between BPCEGP and LB Foster
Specify exactly 2 symbols:
By analyzing existing cross correlation between BPCEGP 2277 20 JAN 32 and LB Foster, you can compare the effects of market volatilities on BPCEGP and LB Foster 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 LB Foster. Check out your portfolio center. Please also check ongoing floating volatility patterns of BPCEGP and LB Foster.
Diversification Opportunities for BPCEGP and LB Foster
Excellent diversification
The 3 months correlation between BPCEGP and FSTR is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding BPCEGP 2277 20 JAN 32 and LB Foster in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LB Foster 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 2277 20 JAN 32 are associated (or correlated) with LB Foster. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LB Foster has no effect on the direction of BPCEGP i.e., BPCEGP and LB Foster go up and down completely randomly.
Pair Corralation between BPCEGP and LB Foster
Assuming the 90 days trading horizon BPCEGP is expected to generate 56.67 times less return on investment than LB Foster. But when comparing it to its historical volatility, BPCEGP 2277 20 JAN 32 is 2.78 times less risky than LB Foster. It trades about 0.0 of its potential returns per unit of risk. LB Foster is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 1,400 in LB Foster on September 12, 2024 and sell it today you would earn a total of 1,462 from holding LB Foster or generate 104.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 55.97% |
| Values | Daily Returns |
BPCEGP 2277 20 JAN 32 vs. LB Foster
Performance |
| Timeline |
| BPCEGP 2277 20 |
| LB Foster |
BPCEGP and LB Foster Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BPCEGP and LB Foster
The main advantage of trading using opposite BPCEGP and LB Foster positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BPCEGP position performs unexpectedly, LB Foster 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 LB Foster will offset losses from the drop in LB Foster's long position.| BPCEGP vs. Sapiens International | BPCEGP vs. Pentair PLC | BPCEGP vs. Harmony Gold Mining | BPCEGP vs. Kaltura |
| LB Foster vs. Trinity Industries | LB Foster vs. Freightcar America | LB Foster vs. Westinghouse Air Brake | LB Foster vs. Norfolk Southern |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data |