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  
00

Risk-Adjusted Performance

Over the last 30 days Jack In The Box has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, Jack In is not utilizing all of its potentials. The recent stock price confusion, may contribute to short-horizon losses for the traders.
Biglari Holdings  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Biglari Holdings are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Despite nearly unfluctuating fundamental indicators, Biglari Holdings layed out solid returns over the last few months and may actually be approaching a breakup point.

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 under-perform the Biglari Holdings. But the stock apears to be less risky and, when comparing its historical volatility, Jack In The Box is 2.75 times less risky than Biglari Holdings. The stock trades about -0.04 of its potential returns per unit of risk. The Biglari Holdings is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  9,626  in Biglari Holdings on October 15, 2019 and sell it today you would earn a total of  1,361  from holding Biglari Holdings or generate 14.14% return on investment over 30 days.

Pair Corralation between Jack In and Biglari Holdings

0.52
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for Jack In and Biglari Holdings

Jack In The Box Inc diversification synergy

Very 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 Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
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