Correlation Between Beijing Kaiwen and BCEG Environmental
Specify exactly 2 symbols:
By analyzing existing cross correlation between Beijing Kaiwen Education and BCEG Environmental Remediation, you can compare the effects of market volatilities on Beijing Kaiwen and BCEG Environmental 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 Kaiwen with a short position of BCEG Environmental. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Kaiwen and BCEG Environmental.
Diversification Opportunities for Beijing Kaiwen and BCEG Environmental
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Beijing and BCEG is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Kaiwen Education and BCEG Environmental Remediation in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BCEG Environmental and Beijing Kaiwen 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 Kaiwen Education are associated (or correlated) with BCEG Environmental. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BCEG Environmental has no effect on the direction of Beijing Kaiwen i.e., Beijing Kaiwen and BCEG Environmental go up and down completely randomly.
Pair Corralation between Beijing Kaiwen and BCEG Environmental
Assuming the 90 days trading horizon Beijing Kaiwen Education is expected to under-perform the BCEG Environmental. In addition to that, Beijing Kaiwen is 1.45 times more volatile than BCEG Environmental Remediation. It trades about 0.0 of its total potential returns per unit of risk. BCEG Environmental Remediation is currently generating about 0.0 per unit of volatility. If you would invest 1,133 in BCEG Environmental Remediation on November 3, 2024 and sell it today you would lose (3.00) from holding BCEG Environmental Remediation or give up 0.26% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Kaiwen Education vs. BCEG Environmental Remediation
Performance |
| Timeline |
| Beijing Kaiwen Education |
| BCEG Environmental |
Beijing Kaiwen and BCEG Environmental Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Kaiwen and BCEG Environmental
The main advantage of trading using opposite Beijing Kaiwen and BCEG Environmental positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Kaiwen position performs unexpectedly, BCEG Environmental 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 BCEG Environmental will offset losses from the drop in BCEG Environmental's long position.| Beijing Kaiwen vs. Southern PublishingMedia Co | Beijing Kaiwen vs. Changjiang Publishing Media | Beijing Kaiwen vs. Lander Sports Development | Beijing Kaiwen vs. Wasu Media Holding |
| BCEG Environmental vs. Industrial and Commercial | BCEG Environmental vs. Agricultural Bank of | BCEG Environmental vs. China Construction Bank | BCEG Environmental vs. Bank of China |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |