Correlation Between BBQ Holdings and Dunkin Brands
Can any of the company-specific risk be diversified away by investing in both BBQ Holdings and Dunkin Brands 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 Dunkin Brands into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BBQ Holdings and Dunkin Brands Group, you can compare the effects of market volatilities on BBQ Holdings and Dunkin Brands 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 Dunkin Brands. Check out your portfolio center. Please also check ongoing floating volatility patterns of BBQ Holdings and Dunkin Brands.
Diversification Opportunities for BBQ Holdings and Dunkin Brands
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BBQ and Dunkin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BBQ Holdings and Dunkin Brands Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dunkin Brands Group 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 Dunkin Brands. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dunkin Brands Group has no effect on the direction of BBQ Holdings i.e., BBQ Holdings and Dunkin Brands go up and down completely randomly.
Pair Corralation between BBQ Holdings and Dunkin Brands
If you would invest (100.00) in Dunkin Brands Group on January 19, 2024 and sell it today you would earn a total of 100.00 from holding Dunkin Brands Group or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
BBQ Holdings vs. Dunkin Brands Group
Performance |
Timeline |
BBQ Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Dunkin Brands Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
BBQ Holdings and Dunkin Brands Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with BBQ Holdings and Dunkin Brands
The main advantage of trading using opposite BBQ Holdings and Dunkin Brands positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BBQ Holdings position performs unexpectedly, Dunkin Brands 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 Dunkin Brands will offset losses from the drop in Dunkin Brands' long position.BBQ Holdings vs. Dominos Pizza | BBQ Holdings vs. Brinker International | BBQ Holdings vs. Jack In The | BBQ Holdings vs. The Wendys Co |
Dunkin Brands vs. Pyrophyte Acquisition Corp | Dunkin Brands vs. Sabra Healthcare REIT | Dunkin Brands vs. Brp Group | Dunkin Brands vs. Rand Capital 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Other Complementary Tools
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
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 | |
Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
Commodity Directory Find actively traded commodities issued by global exchanges | |
Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |