Correlation Between Blender Financial and Abra Information
Can any of the company-specific risk be diversified away by investing in both Blender Financial and Abra Information 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 Blender Financial and Abra Information into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blender Financial Technologies and Abra Information Technologies, you can compare the effects of market volatilities on Blender Financial and Abra Information 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 Blender Financial with a short position of Abra Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blender Financial and Abra Information.
Diversification Opportunities for Blender Financial and Abra Information
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Blender and Abra is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Blender Financial Technologies and Abra Information Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Abra Information Tec and Blender Financial 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 Blender Financial Technologies are associated (or correlated) with Abra Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Abra Information Tec has no effect on the direction of Blender Financial i.e., Blender Financial and Abra Information go up and down completely randomly.
Pair Corralation between Blender Financial and Abra Information
Assuming the 90 days trading horizon Blender Financial Technologies is expected to generate 1.32 times more return on investment than Abra Information. However, Blender Financial is 1.32 times more volatile than Abra Information Technologies. It trades about 0.0 of its potential returns per unit of risk. Abra Information Technologies is currently generating about -0.01 per unit of risk. If you would invest 43,460 in Blender Financial Technologies on September 14, 2024 and sell it today you would lose (7,570) from holding Blender Financial Technologies or give up 17.42% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.74% |
| Values | Daily Returns |
Blender Financial Technologies vs. Abra Information Technologies
Performance |
| Timeline |
| Blender Financial |
| Abra Information Tec |
Blender Financial and Abra Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blender Financial and Abra Information
The main advantage of trading using opposite Blender Financial and Abra Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blender Financial position performs unexpectedly, Abra Information 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 Abra Information will offset losses from the drop in Abra Information's long position.| Blender Financial vs. Michman Basad | Blender Financial vs. Isracard | Blender Financial vs. Nawi Brothers Group | Blender Financial vs. Menif Financial Services |
| Abra Information vs. Tedea Technological Development | Abra Information vs. Abra Information Technologies | Abra Information vs. Blender Financial Technologies | Abra Information vs. Ormat Technologies |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Stocks Directory Find actively traded stocks across global markets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Global Correlations Find global opportunities by holding instruments from different markets |