Correlation Between Brenmiller Energy and American Security
Can any of the company-specific risk be diversified away by investing in both Brenmiller Energy and American Security 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 Brenmiller Energy and American Security into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Brenmiller Energy Ltd and American Security Resources, you can compare the effects of market volatilities on Brenmiller Energy and American Security 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 Brenmiller Energy with a short position of American Security. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brenmiller Energy and American Security.
Diversification Opportunities for Brenmiller Energy and American Security
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Brenmiller and American is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Brenmiller Energy Ltd and American Security Resources in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on American Security and Brenmiller Energy 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 Brenmiller Energy Ltd are associated (or correlated) with American Security. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Security has no effect on the direction of Brenmiller Energy i.e., Brenmiller Energy and American Security go up and down completely randomly.
Pair Corralation between Brenmiller Energy and American Security
If you would invest 0.01 in American Security Resources on August 31, 2024 and sell it today you would earn a total of 0.00 from holding American Security Resources or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Brenmiller Energy Ltd vs. American Security Resources
Performance |
| Timeline |
| Brenmiller Energy |
| American Security |
Brenmiller Energy and American Security Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Brenmiller Energy and American Security
The main advantage of trading using opposite Brenmiller Energy and American Security positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brenmiller Energy position performs unexpectedly, American Security 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 American Security will offset losses from the drop in American Security's long position.| Brenmiller Energy vs. Verde Clean Fuels | Brenmiller Energy vs. Smart Powerr Corp | Brenmiller Energy vs. Ormat Technologies | Brenmiller Energy vs. Tokyo Electric Power |
| American Security vs. Astra Energy | American Security vs. Alternus Energy Group | American Security vs. Carnegie Clean Energy | American Security vs. Altius Renewable Royalties |
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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