Correlation Between Hollywood Bowl and Jack In
Can any of the company-specific risk be diversified away by investing in both Hollywood Bowl and Jack In 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 Hollywood Bowl and Jack In into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hollywood Bowl Group and Jack In The, you can compare the effects of market volatilities on Hollywood Bowl and Jack In 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 Hollywood Bowl with a short position of Jack In. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hollywood Bowl and Jack In.
Diversification Opportunities for Hollywood Bowl and Jack In
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Hollywood and Jack is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Hollywood Bowl Group and Jack In The in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jack In and Hollywood Bowl 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 Hollywood Bowl Group are associated (or correlated) with Jack In. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jack In has no effect on the direction of Hollywood Bowl i.e., Hollywood Bowl and Jack In go up and down completely randomly.
Pair Corralation between Hollywood Bowl and Jack In
Assuming the 90 days trading horizon Hollywood Bowl Group is expected to generate 0.38 times more return on investment than Jack In. However, Hollywood Bowl Group is 2.65 times less risky than Jack In. It trades about 0.15 of its potential returns per unit of risk. Jack In The is currently generating about -0.01 per unit of risk. If you would invest 24,550 in Hollywood Bowl Group on September 9, 2025 and sell it today you would earn a total of 4,000 from holding Hollywood Bowl Group or generate 16.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Hollywood Bowl Group vs. Jack In The
Performance |
| Timeline |
| Hollywood Bowl Group |
| Jack In |
Hollywood Bowl and Jack In Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hollywood Bowl and Jack In
The main advantage of trading using opposite Hollywood Bowl and Jack In positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hollywood Bowl position performs unexpectedly, Jack In 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 Jack In will offset losses from the drop in Jack In's long position.| Hollywood Bowl vs. Gaztransport et Technigaz | Hollywood Bowl vs. Axfood AB | Hollywood Bowl vs. Sligro Food Group | Hollywood Bowl vs. Supermarket Income REIT |
| Jack In vs. El Pollo Loco | Jack In vs. Twin Hospitality Group | Jack In vs. Barnes Noble Education | Jack In vs. Dine Brands Global |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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