Correlation Between Ark Restaurants and 057224AK3
Specify exactly 2 symbols:
By analyzing existing cross correlation between Ark Restaurants Corp and BHI 6875 15 JAN 29, you can compare the effects of market volatilities on Ark Restaurants and 057224AK3 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 Ark Restaurants with a short position of 057224AK3. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ark Restaurants and 057224AK3.
Diversification Opportunities for Ark Restaurants and 057224AK3
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between Ark and 057224AK3 is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Ark Restaurants Corp and BHI 6875 15 JAN 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BHI 6875 15 and Ark Restaurants 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 Ark Restaurants Corp are associated (or correlated) with 057224AK3. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BHI 6875 15 has no effect on the direction of Ark Restaurants i.e., Ark Restaurants and 057224AK3 go up and down completely randomly.
Pair Corralation between Ark Restaurants and 057224AK3
Given the investment horizon of 90 days Ark Restaurants Corp is expected to generate 12.28 times more return on investment than 057224AK3. However, Ark Restaurants is 12.28 times more volatile than BHI 6875 15 JAN 29. It trades about 0.09 of its potential returns per unit of risk. BHI 6875 15 JAN 29 is currently generating about -0.15 per unit of risk. If you would invest 1,001 in Ark Restaurants Corp on September 26, 2024 and sell it today you would earn a total of 99.00 from holding Ark Restaurants Corp or generate 9.89% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 42.86% |
Values | Daily Returns |
Ark Restaurants Corp vs. BHI 6875 15 JAN 29
Performance |
Timeline |
Ark Restaurants Corp |
BHI 6875 15 |
Ark Restaurants and 057224AK3 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Ark Restaurants and 057224AK3
The main advantage of trading using opposite Ark Restaurants and 057224AK3 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ark Restaurants position performs unexpectedly, 057224AK3 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 057224AK3 will offset losses from the drop in 057224AK3's long position.Ark Restaurants vs. Nathans Famous | Ark Restaurants vs. Flanigans Enterprises | Ark Restaurants vs. Good Times Restaurants | Ark Restaurants vs. Auburn National Bancorporation |
057224AK3 vs. John Wiley Sons | 057224AK3 vs. Ark Restaurants Corp | 057224AK3 vs. Biglari Holdings | 057224AK3 vs. Dalata Hotel Group |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Other Complementary Tools
Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments |