Bakkt Holdings Correlations

Stocks . USA . 
Stock . Bakkt Holdings Warrant
BKKT-WT Stock   0.26  0.03  13.04%   
The current 90-days correlation between Bakkt Holdings Warrant and Bakkt Holdings is 0.58 (i.e., Very weak diversification). The correlation of Bakkt Holdings is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Bakkt Holdings Correlation With Market

Average diversification

The correlation between Bakkt Holdings Warrant and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bakkt Holdings Warrant and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bakkt Holdings Warrant. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
For more information on how to buy Bakkt Stock please use our How to Invest in Bakkt Holdings guide.

Moving together with Bakkt Stock

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Moving against Bakkt Stock

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  0.68WF Woori Financial GroupPairCorr
  0.68BAC-PL Bank of AmericaPairCorr
  0.66WFC-PL Wells FargoPairCorr
  0.59BMYMP Bristol Myers SquibbPairCorr
  0.52META Meta Platforms Aggressive PushPairCorr
  0.31FNMFO Federal National MortgagePairCorr
  0.84IBM International BusinessPairCorr
  0.8T ATT Inc Sell-off TrendPairCorr
  0.79GE GE AerospacePairCorr
  0.78JNJ Johnson Johnson Sell-off TrendPairCorr
  0.75MMM 3M CompanyPairCorr
  0.73KO Coca ColaPairCorr
  0.66CVX Chevron CorpPairCorr
  0.56XOM Exxon Mobil Corp Earnings Call Next WeekPairCorr
  0.42PG Procter GamblePairCorr
  0.36JPM JPMorgan ChasePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
IONQ-WT
+ 0.65
BKKT
PSFE-WT
+ 0.65
BKKT
PSFE-WT
+ 0.61
IONQ-WT
PHUNW
+ 0.0
BKKT
IONQ-WT
+ 0.0
PHUNW
PSFE-WT
+ 0.0
PHUNW
  
High negative correlations   
PSFE-WT
- 0.0
PHUNW
IONQ-WT
- 0.0
PHUNW
PHUNW
- 0.0
BKKT

Risk-Adjusted Indicators

There is a big difference between Bakkt Stock performing well and Bakkt Holdings Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Bakkt Holdings' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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