Correlation Between Aimfinity Investment and Bilibili
Can any of the company-specific risk be diversified away by investing in both Aimfinity Investment and Bilibili 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 Aimfinity Investment and Bilibili into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aimfinity Investment I and Bilibili, you can compare the effects of market volatilities on Aimfinity Investment and Bilibili 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 Aimfinity Investment with a short position of Bilibili. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aimfinity Investment and Bilibili.
Diversification Opportunities for Aimfinity Investment and Bilibili
-0.63 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Aimfinity and Bilibili is -0.63. Overlapping area represents the amount of risk that can be diversified away by holding Aimfinity Investment I and Bilibili in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bilibili and Aimfinity Investment 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 Aimfinity Investment I are associated (or correlated) with Bilibili. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bilibili has no effect on the direction of Aimfinity Investment i.e., Aimfinity Investment and Bilibili go up and down completely randomly.
Pair Corralation between Aimfinity Investment and Bilibili
Assuming the 90 days horizon Aimfinity Investment I is expected to generate 1.59 times more return on investment than Bilibili. However, Aimfinity Investment is 1.59 times more volatile than Bilibili. It trades about 0.05 of its potential returns per unit of risk. Bilibili is currently generating about -0.03 per unit of risk. If you would invest 1,293 in Aimfinity Investment I on November 3, 2024 and sell it today you would earn a total of 32.00 from holding Aimfinity Investment I or generate 2.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aimfinity Investment I vs. Bilibili
Performance |
| Timeline |
| Aimfinity Investment |
| Bilibili |
Aimfinity Investment and Bilibili Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aimfinity Investment and Bilibili
The main advantage of trading using opposite Aimfinity Investment and Bilibili positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aimfinity Investment position performs unexpectedly, Bilibili 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 Bilibili will offset losses from the drop in Bilibili's long position.| Aimfinity Investment vs. Pearson PLC ADR | Aimfinity Investment vs. Saia Inc | Aimfinity Investment vs. Proficient Auto Logistics, | Aimfinity Investment vs. Toro |
| Bilibili vs. Electronic Arts | Bilibili vs. Take Two Interactive Software | Bilibili vs. SohuCom | Bilibili vs. Skillz Platform |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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