Correlation Between Postal Savings and BOS BETTER
Can any of the company-specific risk be diversified away by investing in both Postal Savings and BOS BETTER 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 Postal Savings and BOS BETTER into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Postal Savings Bank and BOS BETTER ONLINE, you can compare the effects of market volatilities on Postal Savings and BOS BETTER 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 Postal Savings with a short position of BOS BETTER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and BOS BETTER.
Diversification Opportunities for Postal Savings and BOS BETTER
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Postal and BOS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and BOS BETTER ONLINE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOS BETTER ONLINE and Postal Savings 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 Postal Savings Bank are associated (or correlated) with BOS BETTER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOS BETTER ONLINE has no effect on the direction of Postal Savings i.e., Postal Savings and BOS BETTER go up and down completely randomly.
Pair Corralation between Postal Savings and BOS BETTER
If you would invest 54.00 in Postal Savings Bank on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Postal Savings Bank or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. BOS BETTER ONLINE
Performance |
| Timeline |
| Postal Savings Bank |
| BOS BETTER ONLINE |
Postal Savings and BOS BETTER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and BOS BETTER
The main advantage of trading using opposite Postal Savings and BOS BETTER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, BOS BETTER 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 BOS BETTER will offset losses from the drop in BOS BETTER's long position.| Postal Savings vs. Perdoceo Education | Postal Savings vs. STRAYER EDUCATION | Postal Savings vs. Costco Wholesale Corp | Postal Savings vs. Tsingtao Brewery |
| BOS BETTER vs. Apple Inc | BOS BETTER vs. Apple Inc | BOS BETTER vs. Superior Plus Corp | BOS BETTER vs. SIVERS SEMICONDUCTORS AB |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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