Correlation Between Bel Fuse and STRYKER
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By analyzing existing cross correlation between Bel Fuse A and STRYKER P 4375, you can compare the effects of market volatilities on Bel Fuse and STRYKER 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 Bel Fuse with a short position of STRYKER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bel Fuse and STRYKER.
Diversification Opportunities for Bel Fuse and STRYKER
Very weak diversification
The 3 months correlation between Bel and STRYKER is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Bel Fuse A and STRYKER P 4375 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on STRYKER P 4375 and Bel Fuse 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 Bel Fuse A are associated (or correlated) with STRYKER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of STRYKER P 4375 has no effect on the direction of Bel Fuse i.e., Bel Fuse and STRYKER go up and down completely randomly.
Pair Corralation between Bel Fuse and STRYKER
Assuming the 90 days horizon Bel Fuse is expected to generate 44.41 times less return on investment than STRYKER. But when comparing it to its historical volatility, Bel Fuse A is 37.75 times less risky than STRYKER. It trades about 0.09 of its potential returns per unit of risk. STRYKER P 4375 is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 8,683 in STRYKER P 4375 on September 4, 2024 and sell it today you would earn a total of 323.00 from holding STRYKER P 4375 or generate 3.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 31.64% |
| Values | Daily Returns |
Bel Fuse A vs. STRYKER P 4375
Performance |
| Timeline |
| Bel Fuse A |
| STRYKER P 4375 |
Bel Fuse and STRYKER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bel Fuse and STRYKER
The main advantage of trading using opposite Bel Fuse and STRYKER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bel Fuse position performs unexpectedly, STRYKER 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 STRYKER will offset losses from the drop in STRYKER's long position.| Bel Fuse vs. Richardson Electronics | Bel Fuse vs. LSI Industries | Bel Fuse vs. Benchmark Electronics | Bel Fuse vs. Plexus Corp |
| STRYKER vs. The Travelers Companies | STRYKER vs. GE Aerospace | STRYKER vs. Walmart | STRYKER vs. Pfizer Inc |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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