Correlation Between Beamr Imaging and Inpixon
Can any of the company-specific risk be diversified away by investing in both Beamr Imaging and Inpixon 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 Inpixon 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 Inpixon, you can compare the effects of market volatilities on Beamr Imaging and Inpixon 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 Inpixon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beamr Imaging and Inpixon.
Diversification Opportunities for Beamr Imaging and Inpixon
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Beamr and Inpixon is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Beamr Imaging Ltd and Inpixon in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inpixon 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 Inpixon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inpixon has no effect on the direction of Beamr Imaging i.e., Beamr Imaging and Inpixon go up and down completely randomly.
Pair Corralation between Beamr Imaging and Inpixon
If you would invest 15.00 in Inpixon on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Inpixon or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
Beamr Imaging Ltd vs. Inpixon
Performance |
| Timeline |
| Beamr Imaging |
| Inpixon |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Beamr Imaging and Inpixon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beamr Imaging and Inpixon
The main advantage of trading using opposite Beamr Imaging and Inpixon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beamr Imaging position performs unexpectedly, Inpixon 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 Inpixon will offset losses from the drop in Inpixon's long position.| Beamr Imaging vs. Infobird Co | Beamr Imaging vs. HeartCore Enterprises | Beamr Imaging vs. Trust Stamp | Beamr Imaging vs. Quhuo |
| Inpixon vs. Trust Stamp | Inpixon vs. HeartCore Enterprises | Inpixon vs. SoundHound AI | Inpixon 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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