Correlation Between BOS BETTER and SPARTAN STORES
Can any of the company-specific risk be diversified away by investing in both BOS BETTER and SPARTAN STORES 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 SPARTAN STORES 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 SPARTAN STORES, you can compare the effects of market volatilities on BOS BETTER and SPARTAN STORES 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 SPARTAN STORES. Check out your portfolio center. Please also check ongoing floating volatility patterns of BOS BETTER and SPARTAN STORES.
Diversification Opportunities for BOS BETTER and SPARTAN STORES
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BOS and SPARTAN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BOS BETTER ONLINE and SPARTAN STORES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SPARTAN STORES 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 SPARTAN STORES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPARTAN STORES has no effect on the direction of BOS BETTER i.e., BOS BETTER and SPARTAN STORES go up and down completely randomly.
Pair Corralation between BOS BETTER and SPARTAN STORES
If you would invest 236.00 in BOS BETTER ONLINE on November 19, 2024 and sell it today you would earn a total of 0.00 from holding BOS BETTER ONLINE or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
BOS BETTER ONLINE vs. SPARTAN STORES
Performance |
| Timeline |
| BOS BETTER ONLINE |
| SPARTAN STORES |
BOS BETTER and SPARTAN STORES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BOS BETTER and SPARTAN STORES
The main advantage of trading using opposite BOS BETTER and SPARTAN STORES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BOS BETTER position performs unexpectedly, SPARTAN STORES 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 SPARTAN STORES will offset losses from the drop in SPARTAN STORES's long position.| BOS BETTER vs. Samsung Electronics Co | BOS BETTER vs. Nanjing Panda Electronics | BOS BETTER vs. SCIENCE IN SPORT | BOS BETTER vs. UMC Electronics Co |
| SPARTAN STORES vs. Apollo Investment Corp | SPARTAN STORES vs. UMC Electronics Co | SPARTAN STORES vs. United Microelectronics Corp | SPARTAN STORES vs. LG 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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