Correlation Between Beamr Imaging and Borqs Technologies
Can any of the company-specific risk be diversified away by investing in both Beamr Imaging and Borqs Technologies 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 Beamr Imaging and Borqs Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Beamr Imaging Ltd and Borqs Technologies, you can compare the effects of market volatilities on Beamr Imaging and Borqs Technologies 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 Beamr Imaging with a short position of Borqs Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beamr Imaging and Borqs Technologies.
Diversification Opportunities for Beamr Imaging and Borqs Technologies
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Beamr and Borqs is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Beamr Imaging Ltd and Borqs Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Borqs Technologies and Beamr Imaging 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 Beamr Imaging Ltd are associated (or correlated) with Borqs Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Borqs Technologies has no effect on the direction of Beamr Imaging i.e., Beamr Imaging and Borqs Technologies go up and down completely randomly.
Pair Corralation between Beamr Imaging and Borqs Technologies
If you would invest 20.00 in Borqs Technologies on August 31, 2024 and sell it today you would earn a total of 0.00 from holding Borqs Technologies or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Beamr Imaging Ltd vs. Borqs Technologies
Performance |
| Timeline |
| Beamr Imaging |
| Borqs Technologies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Beamr Imaging and Borqs Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beamr Imaging and Borqs Technologies
The main advantage of trading using opposite Beamr Imaging and Borqs Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beamr Imaging position performs unexpectedly, Borqs Technologies 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 Borqs Technologies will offset losses from the drop in Borqs Technologies' long position.| Beamr Imaging vs. Infobird Co | Beamr Imaging vs. HeartCore Enterprises | Beamr Imaging vs. Trust Stamp | Beamr Imaging vs. Quhuo |
| Borqs Technologies vs. CXApp Inc | Borqs Technologies vs. Trust Stamp | Borqs Technologies vs. Freight Technologies | Borqs Technologies vs. Infobird Co |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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