Correlation Between BOS BETTER and SBI Insurance
Can any of the company-specific risk be diversified away by investing in both BOS BETTER and SBI Insurance 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 BOS BETTER and SBI Insurance into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BOS BETTER ONLINE and SBI Insurance Group, you can compare the effects of market volatilities on BOS BETTER and SBI Insurance 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 BOS BETTER with a short position of SBI Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of BOS BETTER and SBI Insurance.
Diversification Opportunities for BOS BETTER and SBI Insurance
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BOS and SBI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BOS BETTER ONLINE and SBI Insurance Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SBI Insurance Group and BOS BETTER 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 BOS BETTER ONLINE are associated (or correlated) with SBI Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SBI Insurance Group has no effect on the direction of BOS BETTER i.e., BOS BETTER and SBI Insurance go up and down completely randomly.
Pair Corralation between BOS BETTER and SBI Insurance
If you would invest 545.00 in SBI Insurance Group on September 3, 2024 and sell it today you would earn a total of 60.00 from holding SBI Insurance Group or generate 11.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
BOS BETTER ONLINE vs. SBI Insurance Group
Performance |
| Timeline |
| BOS BETTER ONLINE |
| SBI Insurance Group |
BOS BETTER and SBI Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BOS BETTER and SBI Insurance
The main advantage of trading using opposite BOS BETTER and SBI Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BOS BETTER position performs unexpectedly, SBI Insurance 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 SBI Insurance will offset losses from the drop in SBI Insurance's long position.| BOS BETTER vs. SCANDMEDICAL SOLDK 040 | BOS BETTER vs. CompuGroup Medical SE | BOS BETTER vs. LG Display Co | BOS BETTER vs. IMAGIN MEDICAL INC |
| SBI Insurance vs. Richardson Electronics | SBI Insurance vs. Methode Electronics | SBI Insurance vs. HOCHSCHILD MINING | SBI Insurance vs. Benchmark Electronics |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio |