Correlation Between Bolt Projects and Sprouts Farmers
Can any of the company-specific risk be diversified away by investing in both Bolt Projects and Sprouts Farmers 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 Bolt Projects and Sprouts Farmers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bolt Projects Holdings, and Sprouts Farmers Market, you can compare the effects of market volatilities on Bolt Projects and Sprouts Farmers 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 Bolt Projects with a short position of Sprouts Farmers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bolt Projects and Sprouts Farmers.
Diversification Opportunities for Bolt Projects and Sprouts Farmers
-0.59 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Bolt and Sprouts is -0.59. Overlapping area represents the amount of risk that can be diversified away by holding Bolt Projects Holdings, and Sprouts Farmers Market in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sprouts Farmers Market and Bolt Projects 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 Bolt Projects Holdings, are associated (or correlated) with Sprouts Farmers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sprouts Farmers Market has no effect on the direction of Bolt Projects i.e., Bolt Projects and Sprouts Farmers go up and down completely randomly.
Pair Corralation between Bolt Projects and Sprouts Farmers
Assuming the 90 days horizon Bolt Projects Holdings, is expected to generate 28.64 times more return on investment than Sprouts Farmers. However, Bolt Projects is 28.64 times more volatile than Sprouts Farmers Market. It trades about 0.11 of its potential returns per unit of risk. Sprouts Farmers Market is currently generating about -0.13 per unit of risk. If you would invest 3.13 in Bolt Projects Holdings, on June 12, 2025 and sell it today you would earn a total of 0.94 from holding Bolt Projects Holdings, or generate 30.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 90.32% |
| Values | Daily Returns |
Bolt Projects Holdings, vs. Sprouts Farmers Market
Performance |
| Timeline |
| Bolt Projects Holdings, |
| Sprouts Farmers Market |
Bolt Projects and Sprouts Farmers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bolt Projects and Sprouts Farmers
The main advantage of trading using opposite Bolt Projects and Sprouts Farmers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bolt Projects position performs unexpectedly, Sprouts Farmers 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 Sprouts Farmers will offset losses from the drop in Sprouts Farmers' long position.| Bolt Projects vs. Colgate Palmolive | Bolt Projects vs. Estee Lauder Companies | Bolt Projects vs. Procter Gamble | Bolt Projects vs. United Guardian |
| Sprouts Farmers vs. Grocery Outlet Holding | Sprouts Farmers vs. Ingles Markets Incorporated | Sprouts Farmers vs. Natural Grocers by | Sprouts Farmers vs. Albertsons Companies |
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.
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