Correlation Between Beamr Imaging and LivePerson
Can any of the company-specific risk be diversified away by investing in both Beamr Imaging and LivePerson 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 LivePerson 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 LivePerson, you can compare the effects of market volatilities on Beamr Imaging and LivePerson 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 LivePerson. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beamr Imaging and LivePerson.
Diversification Opportunities for Beamr Imaging and LivePerson
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Beamr and LivePerson is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Beamr Imaging Ltd and LivePerson in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LivePerson 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 LivePerson. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LivePerson has no effect on the direction of Beamr Imaging i.e., Beamr Imaging and LivePerson go up and down completely randomly.
Pair Corralation between Beamr Imaging and LivePerson
Considering the 90-day investment horizon Beamr Imaging Ltd is expected to generate 0.62 times more return on investment than LivePerson. However, Beamr Imaging Ltd is 1.61 times less risky than LivePerson. It trades about -0.02 of its potential returns per unit of risk. LivePerson is currently generating about -0.07 per unit of risk. If you would invest 347.00 in Beamr Imaging Ltd on September 5, 2024 and sell it today you would lose (25.00) from holding Beamr Imaging Ltd or give up 7.2% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beamr Imaging Ltd vs. LivePerson
Performance |
| Timeline |
| Beamr Imaging |
| LivePerson |
Beamr Imaging and LivePerson Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beamr Imaging and LivePerson
The main advantage of trading using opposite Beamr Imaging and LivePerson positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beamr Imaging position performs unexpectedly, LivePerson 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 LivePerson will offset losses from the drop in LivePerson's long position.| Beamr Imaging vs. Infobird Co | Beamr Imaging vs. HeartCore Enterprises | Beamr Imaging vs. Trust Stamp | Beamr Imaging vs. Quhuo |
| LivePerson vs. HeartCore Enterprises | LivePerson vs. Beamr Imaging Ltd | LivePerson vs. Trust Stamp | LivePerson 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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