Correlation Between Bancfirst Corp and LQ BARR

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Can any of the company-specific risk be diversified away by investing in both Bancfirst Corp and LQ BARR 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 Bancfirst Corp and LQ BARR into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bancfirst Corp and LQ BARR EXP, you can compare the effects of market volatilities on Bancfirst Corp and LQ BARR 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 Bancfirst Corp with a short position of LQ BARR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bancfirst Corp and LQ BARR.

Diversification Opportunities for Bancfirst Corp and LQ BARR

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Bancfirst and Q00277 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bancfirst Corp and LQ BARR EXP HMINZA 60 190124 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LQ BARR EXP and Bancfirst 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 Bancfirst Corp are associated (or correlated) with LQ BARR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LQ BARR EXP has no effect on the direction of Bancfirst Corp i.e., Bancfirst Corp and LQ BARR go up and down completely randomly.

Pair Corralation between Bancfirst Corp and LQ BARR

If you would invest (100.00)  in LQ BARR EXP on July 3, 2022 and sell it today you would earn a total of  100.00  from holding LQ BARR EXP or generate -100.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Bancfirst Corp  vs.  LQ BARR EXP HMINZA 60 190124

 Performance (%) 
       Timeline  
Bancfirst Corp 
Bancfirst Performance
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Over the last 90 days Bancfirst Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest conflicting performance, the Stock's basic indicators remain sound and the latest tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.

Bancfirst Price Channel

LQ BARR EXP 
Q00277 Performance
0 of 100
Over the last 90 days LQ BARR EXP has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, LQ BARR is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Bancfirst Corp and LQ BARR Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Bancfirst Corp and LQ BARR

The main advantage of trading using opposite Bancfirst Corp and LQ BARR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bancfirst Corp position performs unexpectedly, LQ BARR 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 LQ BARR will offset losses from the drop in LQ BARR's long position.
Bancfirst Corp vs. Amazon Inc
The idea behind Bancfirst Corp and LQ BARR EXP pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.

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