Correlation Between GigCapital7 Corp and BNY Mellon
Can any of the company-specific risk be diversified away by investing in both GigCapital7 Corp and BNY Mellon 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 GigCapital7 Corp and BNY Mellon into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GigCapital7 Corp Class and BNY Mellon Strategic, you can compare the effects of market volatilities on GigCapital7 Corp and BNY Mellon 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 GigCapital7 Corp with a short position of BNY Mellon. Check out your portfolio center. Please also check ongoing floating volatility patterns of GigCapital7 Corp and BNY Mellon.
Diversification Opportunities for GigCapital7 Corp and BNY Mellon
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between GigCapital7 and BNY is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding GigCapital7 Corp Class and BNY Mellon Strategic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BNY Mellon Strategic and GigCapital7 Corp 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 GigCapital7 Corp Class are associated (or correlated) with BNY Mellon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BNY Mellon Strategic has no effect on the direction of GigCapital7 Corp i.e., GigCapital7 Corp and BNY Mellon go up and down completely randomly.
Pair Corralation between GigCapital7 Corp and BNY Mellon
Considering the 90-day investment horizon GigCapital7 Corp Class is expected to under-perform the BNY Mellon. In addition to that, GigCapital7 Corp is 2.66 times more volatile than BNY Mellon Strategic. It trades about -0.04 of its total potential returns per unit of risk. BNY Mellon Strategic is currently generating about 0.11 per unit of volatility. If you would invest 618.00 in BNY Mellon Strategic on October 9, 2025 and sell it today you would earn a total of 21.00 from holding BNY Mellon Strategic or generate 3.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
GigCapital7 Corp Class vs. BNY Mellon Strategic
Performance |
| Timeline |
| GigCapital7 Corp Class |
| BNY Mellon Strategic |
GigCapital7 Corp and BNY Mellon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GigCapital7 Corp and BNY Mellon
The main advantage of trading using opposite GigCapital7 Corp and BNY Mellon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GigCapital7 Corp position performs unexpectedly, BNY Mellon 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 BNY Mellon will offset losses from the drop in BNY Mellon's long position.| GigCapital7 Corp vs. Cantor Equity Partners | GigCapital7 Corp vs. Republic Digital Acquisition | GigCapital7 Corp vs. Centurion Acquisition Corp | GigCapital7 Corp vs. Berto Acquisition Corp |
| BNY Mellon vs. Source Capital Closed | BNY Mellon vs. Palmer Square Capital | BNY Mellon vs. GigCapital7 Corp Class | BNY Mellon vs. Barings Corporate Investors |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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