Correlation Between BBB Foods and KEYCORP
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By analyzing existing cross correlation between BBB Foods and KEYCORP MTN, you can compare the effects of market volatilities on BBB Foods and KEYCORP 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 BBB Foods with a short position of KEYCORP. Check out your portfolio center. Please also check ongoing floating volatility patterns of BBB Foods and KEYCORP.
Diversification Opportunities for BBB Foods and KEYCORP
Pay attention - limited upside
The 3 months correlation between BBB and KEYCORP is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BBB Foods and KEYCORP MTN in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KEYCORP MTN and BBB Foods 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 BBB Foods are associated (or correlated) with KEYCORP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KEYCORP MTN has no effect on the direction of BBB Foods i.e., BBB Foods and KEYCORP go up and down completely randomly.
Pair Corralation between BBB Foods and KEYCORP
If you would invest 0.00 in KEYCORP MTN on October 3, 2024 and sell it today you would earn a total of 0.00 from holding KEYCORP MTN or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 1.61% |
Values | Daily Returns |
BBB Foods vs. KEYCORP MTN
Performance |
Timeline |
BBB Foods |
KEYCORP MTN |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
BBB Foods and KEYCORP Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with BBB Foods and KEYCORP
The main advantage of trading using opposite BBB Foods and KEYCORP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BBB Foods position performs unexpectedly, KEYCORP 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 KEYCORP will offset losses from the drop in KEYCORP's long position.BBB Foods vs. AmTrust Financial Services | ||
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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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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