Correlation Between Beamr Imaging and Infobird
Can any of the company-specific risk be diversified away by investing in both Beamr Imaging and Infobird 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 Infobird 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 Infobird Co, you can compare the effects of market volatilities on Beamr Imaging and Infobird 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 Infobird. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beamr Imaging and Infobird.
Diversification Opportunities for Beamr Imaging and Infobird
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Beamr and Infobird is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Beamr Imaging Ltd and Infobird Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Infobird 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 Infobird. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Infobird has no effect on the direction of Beamr Imaging i.e., Beamr Imaging and Infobird go up and down completely randomly.
Pair Corralation between Beamr Imaging and Infobird
Considering the 90-day investment horizon Beamr Imaging Ltd is expected to under-perform the Infobird. But the stock apears to be less risky and, when comparing its historical volatility, Beamr Imaging Ltd is 1.03 times less risky than Infobird. The stock trades about -0.12 of its potential returns per unit of risk. The Infobird Co is currently generating about -0.07 of returns per unit of risk over similar time horizon. If you would invest 196.00 in Infobird Co on August 24, 2024 and sell it today you would lose (17.00) from holding Infobird Co or give up 8.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beamr Imaging Ltd vs. Infobird Co
Performance |
| Timeline |
| Beamr Imaging |
| Infobird |
Beamr Imaging and Infobird Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beamr Imaging and Infobird
The main advantage of trading using opposite Beamr Imaging and Infobird positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beamr Imaging position performs unexpectedly, Infobird 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 Infobird will offset losses from the drop in Infobird's long position.| Beamr Imaging vs. Alkami Technology | Beamr Imaging vs. Paycor HCM | Beamr Imaging vs. Procore Technologies | Beamr Imaging vs. Enfusion |
| Infobird vs. HeartCore Enterprises | Infobird vs. Beamr Imaging Ltd | Infobird vs. Trust Stamp | Infobird vs. CXApp 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |