Correlation Analysis Between Jack In and Biglari Holdings

This module allows you to analyze existing cross correlation between Jack In The Box and Biglari Holdings. You can compare the effects of market volatilities on Jack In and Biglari Holdings 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 Jack In with a short position of Biglari Holdings. See also your portfolio center. Please also check ongoing floating volatility patterns of Jack In and Biglari Holdings.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Jack In The  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Jack In The Box are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Regardless of fairly conflicting technical and fundamental indicators, Jack In may actually be approaching a critical reversion point that can send shares even higher in September 2019.
Biglari Holdings  
00

Risk-Adjusted Performance

Over the last 30 days Biglari Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite conflicting performance in the last few months, the Stock's fundamental indicators remain nearly stable which may send shares a bit higher in September 2019. The prevalent disturbance may also be a sign of long-run up-swing for the entity stockholder.

Jack In and Biglari Holdings Volatility Contrast

 Predicted Return Density 
      Returns 

Jack In The Box Inc  vs.  Biglari Holdings Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Jack In The Box is expected to generate 1.13 times more return on investment than Biglari Holdings. However, Jack In is 1.13 times more volatile than Biglari Holdings. It trades about 0.05 of its potential returns per unit of risk. Biglari Holdings is currently generating about -0.09 per unit of risk. If you would invest  8,285  in Jack In The Box on July 24, 2019 and sell it today you would earn a total of  349.00  from holding Jack In The Box or generate 4.21% return on investment over 30 days.

Pair Corralation between Jack In and Biglari Holdings

0.35
Time Period2 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy97.78%
ValuesDaily Returns

Diversification Opportunities for Jack In and Biglari Holdings

Jack In The Box Inc diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Jack In The Box Inc and Biglari Holdings Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Biglari Holdings and Jack In 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 Jack In The Box are associated (or correlated) with Biglari Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Biglari Holdings has no effect on the direction of Jack In i.e. Jack In and Biglari Holdings go up and down completely randomly.
See also your portfolio center. Please also try Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.


 
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