Correlation Between Beamr Imaging and Kubient
Can any of the company-specific risk be diversified away by investing in both Beamr Imaging and Kubient 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 Kubient 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 Kubient, you can compare the effects of market volatilities on Beamr Imaging and Kubient 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 Kubient. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beamr Imaging and Kubient.
Diversification Opportunities for Beamr Imaging and Kubient
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Beamr and Kubient is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Beamr Imaging Ltd and Kubient in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kubient 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 Kubient. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kubient has no effect on the direction of Beamr Imaging i.e., Beamr Imaging and Kubient go up and down completely randomly.
Pair Corralation between Beamr Imaging and Kubient
If you would invest 335.00 in Beamr Imaging Ltd on November 2, 2024 and sell it today you would earn a total of 24.00 from holding Beamr Imaging Ltd or generate 7.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.97% |
| Values | Daily Returns |
Beamr Imaging Ltd vs. Kubient
Performance |
| Timeline |
| Beamr Imaging |
| Kubient |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Beamr Imaging and Kubient Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beamr Imaging and Kubient
The main advantage of trading using opposite Beamr Imaging and Kubient positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beamr Imaging position performs unexpectedly, Kubient 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 Kubient will offset losses from the drop in Kubient's long position.| Beamr Imaging vs. Infobird Co | Beamr Imaging vs. HeartCore Enterprises | Beamr Imaging vs. Trust Stamp | Beamr Imaging vs. Quhuo |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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