Correlation Between Borqs Technologies and Beamr Imaging
Can any of the company-specific risk be diversified away by investing in both Borqs Technologies and Beamr Imaging 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 Borqs Technologies and Beamr Imaging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Borqs Technologies and Beamr Imaging Ltd, you can compare the effects of market volatilities on Borqs Technologies and Beamr Imaging 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 Borqs Technologies with a short position of Beamr Imaging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Borqs Technologies and Beamr Imaging.
Diversification Opportunities for Borqs Technologies and Beamr Imaging
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Borqs and Beamr is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Borqs Technologies and Beamr Imaging Ltd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beamr Imaging and Borqs Technologies 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 Borqs Technologies are associated (or correlated) with Beamr Imaging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beamr Imaging has no effect on the direction of Borqs Technologies i.e., Borqs Technologies and Beamr Imaging go up and down completely randomly.
Pair Corralation between Borqs Technologies and Beamr Imaging
If you would invest 20.00 in Borqs Technologies on August 31, 2024 and sell it today you would earn a total of 0.00 from holding Borqs Technologies or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 4.55% |
Values | Daily Returns |
Borqs Technologies vs. Beamr Imaging Ltd
Performance |
Timeline |
Borqs Technologies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Beamr Imaging |
Borqs Technologies and Beamr Imaging Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Borqs Technologies and Beamr Imaging
The main advantage of trading using opposite Borqs Technologies and Beamr Imaging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Borqs Technologies position performs unexpectedly, Beamr Imaging 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 Beamr Imaging will offset losses from the drop in Beamr Imaging's long position.Borqs Technologies vs. CXApp Inc | Borqs Technologies vs. Trust Stamp | Borqs Technologies vs. Freight Technologies | Borqs Technologies vs. Infobird Co |
Beamr Imaging vs. Infobird Co | Beamr Imaging vs. HeartCore Enterprises | Beamr Imaging vs. Trust Stamp | Beamr Imaging vs. Quhuo |
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 Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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