Correlation Between 852234AN3 and BCB Bancorp
Specify exactly 2 symbols:
By analyzing existing cross correlation between SQ 275 01 JUN 26 and BCB Bancorp, you can compare the effects of market volatilities on 852234AN3 and BCB Bancorp 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 852234AN3 with a short position of BCB Bancorp. Check out your portfolio center. Please also check ongoing floating volatility patterns of 852234AN3 and BCB Bancorp.
Diversification Opportunities for 852234AN3 and BCB Bancorp
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between 852234AN3 and BCB is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding SQ 275 01 JUN 26 and BCB Bancorp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BCB Bancorp and 852234AN3 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 SQ 275 01 JUN 26 are associated (or correlated) with BCB Bancorp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BCB Bancorp has no effect on the direction of 852234AN3 i.e., 852234AN3 and BCB Bancorp go up and down completely randomly.
Pair Corralation between 852234AN3 and BCB Bancorp
Assuming the 90 days trading horizon SQ 275 01 JUN 26 is expected to generate 0.29 times more return on investment than BCB Bancorp. However, SQ 275 01 JUN 26 is 3.39 times less risky than BCB Bancorp. It trades about 0.0 of its potential returns per unit of risk. BCB Bancorp is currently generating about -0.01 per unit of risk. If you would invest 9,011 in SQ 275 01 JUN 26 on September 1, 2024 and sell it today you would lose (75.00) from holding SQ 275 01 JUN 26 or give up 0.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.76% |
| Values | Daily Returns |
SQ 275 01 JUN 26 vs. BCB Bancorp
Performance |
| Timeline |
| SQ 275 01 |
| BCB Bancorp |
852234AN3 and BCB Bancorp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 852234AN3 and BCB Bancorp
The main advantage of trading using opposite 852234AN3 and BCB Bancorp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 852234AN3 position performs unexpectedly, BCB Bancorp 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 BCB Bancorp will offset losses from the drop in BCB Bancorp's long position.| 852234AN3 vs. BCB Bancorp | 852234AN3 vs. Park Ohio Holdings | 852234AN3 vs. Western Union Co | 852234AN3 vs. Univest Pennsylvania |
| BCB Bancorp vs. Provident Financial Services | BCB Bancorp vs. First Mid Illinois | BCB Bancorp vs. ConnectOne Bancorp | BCB Bancorp vs. Finward Bancorp |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |