Correlation Between Vodka Brands and BPCEGP
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By analyzing existing cross correlation between Vodka Brands Corp and BPCEGP 45 15 MAR 25, you can compare the effects of market volatilities on Vodka Brands and BPCEGP 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 Vodka Brands with a short position of BPCEGP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vodka Brands and BPCEGP.
Diversification Opportunities for Vodka Brands and BPCEGP
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Vodka and BPCEGP is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Vodka Brands Corp and BPCEGP 45 15 MAR 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BPCEGP 45 15 and Vodka Brands 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 Vodka Brands Corp are associated (or correlated) with BPCEGP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BPCEGP 45 15 has no effect on the direction of Vodka Brands i.e., Vodka Brands and BPCEGP go up and down completely randomly.
Pair Corralation between Vodka Brands and BPCEGP
Given the investment horizon of 90 days Vodka Brands Corp is expected to generate 11.29 times more return on investment than BPCEGP. However, Vodka Brands is 11.29 times more volatile than BPCEGP 45 15 MAR 25. It trades about 0.05 of its potential returns per unit of risk. BPCEGP 45 15 MAR 25 is currently generating about -0.19 per unit of risk. If you would invest 105.00 in Vodka Brands Corp on September 2, 2024 and sell it today you would earn a total of 7.00 from holding Vodka Brands Corp or generate 6.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 27.69% |
| Values | Daily Returns |
Vodka Brands Corp vs. BPCEGP 45 15 MAR 25
Performance |
| Timeline |
| Vodka Brands Corp |
| BPCEGP 45 15 |
Vodka Brands and BPCEGP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vodka Brands and BPCEGP
The main advantage of trading using opposite Vodka Brands and BPCEGP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vodka Brands position performs unexpectedly, BPCEGP 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 BPCEGP will offset losses from the drop in BPCEGP's long position.| Vodka Brands vs. Diageo PLC ADR | Vodka Brands vs. Pernod Ricard SA | Vodka Brands vs. Constellation Brands Class | Vodka Brands vs. Brown Forman |
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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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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