Correlation Between Bonso Electronics and Genasys
Can any of the company-specific risk be diversified away by investing in both Bonso Electronics and Genasys 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 Bonso Electronics and Genasys into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bonso Electronics International and Genasys, you can compare the effects of market volatilities on Bonso Electronics and Genasys 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 Bonso Electronics with a short position of Genasys. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bonso Electronics and Genasys.
Diversification Opportunities for Bonso Electronics and Genasys
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bonso and Genasys is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bonso Electronics Internationa and Genasys in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genasys and Bonso Electronics 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 Bonso Electronics International are associated (or correlated) with Genasys. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genasys has no effect on the direction of Bonso Electronics i.e., Bonso Electronics and Genasys go up and down completely randomly.
Pair Corralation between Bonso Electronics and Genasys
If you would invest 279.00 in Genasys on November 8, 2024 and sell it today you would earn a total of 37.00 from holding Genasys or generate 13.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Bonso Electronics Internationa vs. Genasys
Performance |
| Timeline |
| Bonso Electronics |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Genasys |
Bonso Electronics and Genasys Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bonso Electronics and Genasys
The main advantage of trading using opposite Bonso Electronics and Genasys positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bonso Electronics position performs unexpectedly, Genasys 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 Genasys will offset losses from the drop in Genasys' long position.| Bonso Electronics vs. SaverOne 2014 Ltd | Bonso Electronics vs. Genasys | Bonso Electronics vs. Kraken Robotics | Bonso Electronics vs. Mesa Laboratories |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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