Correlation Between Biglari Holdings and Revelyst,

Can any of the company-specific risk be diversified away by investing in both Biglari Holdings and Revelyst, 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 Biglari Holdings and Revelyst, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Biglari Holdings and Revelyst,, you can compare the effects of market volatilities on Biglari Holdings and Revelyst, 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 Biglari Holdings with a short position of Revelyst,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biglari Holdings and Revelyst,.

Diversification Opportunities for Biglari Holdings and Revelyst,

0.0

Correlation Coefficient

Biglari Holdings  Revelyst,

Pay attention - limited upside

The 3 months correlation between Biglari and Revelyst, is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Biglari Holdings and Revelyst, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Revelyst, and Biglari 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 Biglari Holdings are associated (or correlated) with Revelyst,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Revelyst, has no effect on the direction of Biglari Holdings i.e., Biglari Holdings and Revelyst, go up and down completely randomly.

Pair Corralation between Biglari Holdings and Revelyst,

If you would invest (100.00) in Revelyst, on December 20, 2024 and sell it today you would earn a total of  100.00  from holding Revelyst, 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

Biglari Holdings  vs.  Revelyst,

Biglari Holdings

Risk-Adjusted Performance

Very Weak

Over the last 90 days Biglari Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest unsteady performance, the Stock's technical indicators remain strong and the recent confusion on Wall Street may also be a sign of long-lasting gains for the firm traders.

Revelyst,

Risk-Adjusted Performance

Very Weak

Over the last 90 days Revelyst, has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable basic indicators, Revelyst, is not utilizing all of its potentials. The newest stock price agitation, may contribute to short-term losses for the retail investors.

Pair Trading with Biglari Holdings and Revelyst,

The main advantage of trading using opposite Biglari Holdings and Revelyst, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biglari Holdings position performs unexpectedly, Revelyst, 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 Revelyst, will offset losses from the drop in Revelyst,'s long position.

The idea behind Biglari Holdings and Revelyst, pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .