Correlation Between Bellevue Healthcare and Grand Vision
Can any of the company-specific risk be diversified away by investing in both Bellevue Healthcare and Grand Vision 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 Bellevue Healthcare and Grand Vision into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bellevue Healthcare Trust and Grand Vision Media, you can compare the effects of market volatilities on Bellevue Healthcare and Grand Vision 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 Bellevue Healthcare with a short position of Grand Vision. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bellevue Healthcare and Grand Vision.
Diversification Opportunities for Bellevue Healthcare and Grand Vision
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bellevue and Grand is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bellevue Healthcare Trust and Grand Vision Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grand Vision Media and Bellevue Healthcare 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 Bellevue Healthcare Trust are associated (or correlated) with Grand Vision. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grand Vision Media has no effect on the direction of Bellevue Healthcare i.e., Bellevue Healthcare and Grand Vision go up and down completely randomly.
Pair Corralation between Bellevue Healthcare and Grand Vision
If you would invest 13,920 in Bellevue Healthcare Trust on October 17, 2024 and sell it today you would earn a total of 820.00 from holding Bellevue Healthcare Trust or generate 5.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bellevue Healthcare Trust vs. Grand Vision Media
Performance |
| Timeline |
| Bellevue Healthcare Trust |
| Grand Vision Media |
Bellevue Healthcare and Grand Vision Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bellevue Healthcare and Grand Vision
The main advantage of trading using opposite Bellevue Healthcare and Grand Vision positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bellevue Healthcare position performs unexpectedly, Grand Vision 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 Grand Vision will offset losses from the drop in Grand Vision's long position.| Bellevue Healthcare vs. Veolia Environnement VE | Bellevue Healthcare vs. HCA Healthcare | Bellevue Healthcare vs. Symphony Environmental Technologies | Bellevue Healthcare vs. Planet Fitness Cl |
| Grand Vision vs. Bellevue Healthcare Trust | Grand Vision vs. Naturhouse Health SA | Grand Vision vs. Arrow Electronics | Grand Vision vs. HCA Healthcare |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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