Correlation Between Barfresh Food and Bridgford Foods
Can any of the company-specific risk be diversified away by investing in both Barfresh Food and Bridgford Foods 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 Barfresh Food and Bridgford Foods into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Barfresh Food Group and Bridgford Foods, you can compare the effects of market volatilities on Barfresh Food and Bridgford Foods 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 Barfresh Food with a short position of Bridgford Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barfresh Food and Bridgford Foods.
Diversification Opportunities for Barfresh Food and Bridgford Foods
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Barfresh and Bridgford is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Barfresh Food Group and Bridgford Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bridgford Foods and Barfresh Food 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 Barfresh Food Group are associated (or correlated) with Bridgford Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bridgford Foods has no effect on the direction of Barfresh Food i.e., Barfresh Food and Bridgford Foods go up and down completely randomly.
Pair Corralation between Barfresh Food and Bridgford Foods
Given the investment horizon of 90 days Barfresh Food is expected to generate 2.79 times less return on investment than Bridgford Foods. In addition to that, Barfresh Food is 1.08 times more volatile than Bridgford Foods. It trades about 0.06 of its total potential returns per unit of risk. Bridgford Foods is currently generating about 0.19 per unit of volatility. If you would invest 760.00 in Bridgford Foods on September 12, 2025 and sell it today you would earn a total of 85.00 from holding Bridgford Foods or generate 11.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Barfresh Food Group vs. Bridgford Foods
Performance |
| Timeline |
| Barfresh Food Group |
| Bridgford Foods |
Barfresh Food and Bridgford Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Barfresh Food and Bridgford Foods
The main advantage of trading using opposite Barfresh Food and Bridgford Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barfresh Food position performs unexpectedly, Bridgford Foods 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 Bridgford Foods will offset losses from the drop in Bridgford Foods' long position.| Barfresh Food vs. Virgin Group Acquisition | Barfresh Food vs. Laird Superfood | Barfresh Food vs. Wing Yip Food | Barfresh Food vs. Bonk, Inc |
| Bridgford Foods vs. Agape ATP | Bridgford Foods vs. Borealis Foods | Bridgford Foods vs. DDC Enterprise Limited | Bridgford Foods vs. Wing Yip Food |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Other Complementary Tools
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets |