Correlation Between BBQ Holdings and Jack In
Can any of the company-specific risk be diversified away by investing in both BBQ Holdings and Jack In 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 BBQ Holdings and Jack In into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BBQ Holdings and Jack In, you can compare the effects of market volatilities on BBQ Holdings and Jack In 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 BBQ Holdings with a short position of Jack In. Check out your portfolio center. Please also check ongoing floating volatility patterns of BBQ Holdings and Jack In.
Diversification Opportunities for BBQ Holdings and Jack In
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BBQ and Jack is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BBQ Holdings and Jack In The in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jack In and BBQ Holdings 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 BBQ Holdings are associated (or correlated) with Jack In. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jack In has no effect on the direction of BBQ Holdings i.e., BBQ Holdings and Jack In go up and down completely randomly.
Pair Corralation between BBQ Holdings and Jack In
If you would invest 1,724 in BBQ Holdings on December 29, 2023 and sell it today you would earn a total of 0.00 from holding BBQ Holdings or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.69% |
Values | Daily Returns |
BBQ Holdings vs. Jack In The
Performance |
Timeline |
BBQ Holdings |
Risk-Adjusted Performance
0 of 100
Low | High |
Very Weak
Jack In |
BBQ Holdings and Jack In Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with BBQ Holdings and Jack In
The main advantage of trading using opposite BBQ Holdings and Jack In positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BBQ Holdings position performs unexpectedly, Jack In 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 Jack In will offset losses from the drop in Jack In's long position.BBQ Holdings vs. Joint Stock | BBQ Holdings vs. Infosys Ltd ADR | BBQ Holdings vs. Keurig Dr Pepper | BBQ Holdings vs. Bm Technologies |
Jack In vs. Boyd Gaming | Jack In vs. Sea | Jack In vs. National Vision Holdings | Jack In vs. Playtika Holding Corp |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
Economic Indicators Top statistical indicators that provide insights into how an economy is performing |