Correlation Between BlueFocus Communication and Markor International
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By analyzing existing cross correlation between BlueFocus Communication Group and Markor International Home, you can compare the effects of market volatilities on BlueFocus Communication and Markor International 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 BlueFocus Communication with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of BlueFocus Communication and Markor International.
Diversification Opportunities for BlueFocus Communication and Markor International
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between BlueFocus and Markor is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding BlueFocus Communication Group and Markor International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Markor International Home and BlueFocus Communication 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 BlueFocus Communication Group are associated (or correlated) with Markor International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Markor International Home has no effect on the direction of BlueFocus Communication i.e., BlueFocus Communication and Markor International go up and down completely randomly.
Pair Corralation between BlueFocus Communication and Markor International
Assuming the 90 days trading horizon BlueFocus Communication Group is expected to generate 1.98 times more return on investment than Markor International. However, BlueFocus Communication is 1.98 times more volatile than Markor International Home. It trades about 0.15 of its potential returns per unit of risk. Markor International Home is currently generating about -0.14 per unit of risk. If you would invest 811.00 in BlueFocus Communication Group on November 5, 2024 and sell it today you would earn a total of 99.00 from holding BlueFocus Communication Group or generate 12.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BlueFocus Communication Group vs. Markor International Home
Performance |
| Timeline |
| BlueFocus Communication |
| Markor International Home |
BlueFocus Communication and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BlueFocus Communication and Markor International
The main advantage of trading using opposite BlueFocus Communication and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BlueFocus Communication position performs unexpectedly, Markor International 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 Markor International will offset losses from the drop in Markor International's long position.| BlueFocus Communication vs. Dhc Software Co | BlueFocus Communication vs. Kunshan Dongwei Technology | BlueFocus Communication vs. Shenzhen Shenbao Industrial | BlueFocus Communication vs. Dirui Industrial Co |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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