Correlation Between FinTech Acquisition and Brookfield Business
Can any of the company-specific risk be diversified away by investing in both FinTech Acquisition and Brookfield Business 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 FinTech Acquisition and Brookfield Business into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FinTech Acquisition Corp and Brookfield Business Partners, you can compare the effects of market volatilities on FinTech Acquisition and Brookfield Business 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 FinTech Acquisition with a short position of Brookfield Business. Check out your portfolio center. Please also check ongoing floating volatility patterns of FinTech Acquisition and Brookfield Business.
Diversification Opportunities for FinTech Acquisition and Brookfield Business
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between FinTech and Brookfield is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding FinTech Acquisition Corp and Brookfield Business Partners in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Brookfield Business and FinTech Acquisition 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 FinTech Acquisition Corp are associated (or correlated) with Brookfield Business. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Brookfield Business has no effect on the direction of FinTech Acquisition i.e., FinTech Acquisition and Brookfield Business go up and down completely randomly.
Pair Corralation between FinTech Acquisition and Brookfield Business
If you would invest 1,507 in Brookfield Business Partners on February 28, 2024 and sell it today you would earn a total of 382.00 from holding Brookfield Business Partners or generate 25.35% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
FinTech Acquisition Corp vs. Brookfield Business Partners
Performance |
Timeline |
FinTech Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Brookfield Business |
FinTech Acquisition and Brookfield Business Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with FinTech Acquisition and Brookfield Business
The main advantage of trading using opposite FinTech Acquisition and Brookfield Business positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FinTech Acquisition position performs unexpectedly, Brookfield Business 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 Brookfield Business will offset losses from the drop in Brookfield Business' long position.FinTech Acquisition vs. Skechers USA | FinTech Acquisition vs. Radcom | FinTech Acquisition vs. Virco Manufacturing | FinTech Acquisition vs. Tesla Inc |
Brookfield Business vs. Steel Partners Holdings | Brookfield Business vs. Compass Diversified | Brookfield Business vs. Matthews International | Brookfield Business vs. Tejon Ranch Co |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
Fundamental Analysis View fundamental data based on most recent published financial statements | |
Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
Share Portfolio Track or share privately all of your investments from the convenience of any device |