Correlation Between Beijing Bewinner and BlueFocus Communication
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By analyzing existing cross correlation between Beijing Bewinner Communications and BlueFocus Communication Group, you can compare the effects of market volatilities on Beijing Bewinner and BlueFocus Communication 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 Beijing Bewinner with a short position of BlueFocus Communication. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Bewinner and BlueFocus Communication.
Diversification Opportunities for Beijing Bewinner and BlueFocus Communication
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Beijing and BlueFocus is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Bewinner Communication and BlueFocus Communication Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BlueFocus Communication and Beijing Bewinner 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 Beijing Bewinner Communications are associated (or correlated) with BlueFocus Communication. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BlueFocus Communication has no effect on the direction of Beijing Bewinner i.e., Beijing Bewinner and BlueFocus Communication go up and down completely randomly.
Pair Corralation between Beijing Bewinner and BlueFocus Communication
Assuming the 90 days trading horizon Beijing Bewinner is expected to generate 1.46 times less return on investment than BlueFocus Communication. But when comparing it to its historical volatility, Beijing Bewinner Communications is 1.1 times less risky than BlueFocus Communication. It trades about 0.03 of its potential returns per unit of risk. BlueFocus Communication Group is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 803.00 in BlueFocus Communication Group on October 27, 2024 and sell it today you would earn a total of 146.00 from holding BlueFocus Communication Group or generate 18.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Bewinner Communication vs. BlueFocus Communication Group
Performance |
| Timeline |
| Beijing Bewinner Com |
| BlueFocus Communication |
Beijing Bewinner and BlueFocus Communication Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Bewinner and BlueFocus Communication
The main advantage of trading using opposite Beijing Bewinner and BlueFocus Communication positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Bewinner position performs unexpectedly, BlueFocus Communication 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 BlueFocus Communication will offset losses from the drop in BlueFocus Communication's long position.| Beijing Bewinner vs. HaiXin Foods Co | Beijing Bewinner vs. Wuhan Hvsen Biotechnology | Beijing Bewinner vs. Zhongyin Babi Food | Beijing Bewinner vs. Qingdao Foods Co |
| BlueFocus Communication vs. Markor International Home | BlueFocus Communication vs. Zoy Home Furnishing | BlueFocus Communication vs. Fujian Anjoy Foods | BlueFocus Communication vs. Shandong Homey Aquatic |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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