Correlation Between InMode and BPCEGP
Specify exactly 2 symbols:
By analyzing existing cross correlation between InMode and BPCEGP 1625 14 JAN 25, you can compare the effects of market volatilities on InMode and BPCEGP 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 InMode with a short position of BPCEGP. Check out your portfolio center. Please also check ongoing floating volatility patterns of InMode and BPCEGP.
Diversification Opportunities for InMode and BPCEGP
Very weak diversification
The 3 months correlation between InMode and BPCEGP is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding InMode and BPCEGP 1625 14 JAN 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BPCEGP 1625 14 and InMode 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 InMode are associated (or correlated) with BPCEGP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BPCEGP 1625 14 has no effect on the direction of InMode i.e., InMode and BPCEGP go up and down completely randomly.
Pair Corralation between InMode and BPCEGP
Given the investment horizon of 90 days InMode is expected to generate 1.01 times more return on investment than BPCEGP. However, InMode is 1.01 times more volatile than BPCEGP 1625 14 JAN 25. It trades about -0.07 of its potential returns per unit of risk. BPCEGP 1625 14 JAN 25 is currently generating about -0.43 per unit of risk. If you would invest 1,926 in InMode on September 13, 2024 and sell it today you would lose (80.00) from holding InMode or give up 4.15% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 22.73% |
| Values | Daily Returns |
InMode vs. BPCEGP 1625 14 JAN 25
Performance |
| Timeline |
| InMode |
| BPCEGP 1625 14 |
InMode and BPCEGP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with InMode and BPCEGP
The main advantage of trading using opposite InMode and BPCEGP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if InMode position performs unexpectedly, BPCEGP 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 BPCEGP will offset losses from the drop in BPCEGP's long position.| InMode vs. TransMedics Group | InMode vs. Inspire Medical Systems | InMode vs. Inari Medical | InMode vs. Insulet |
| BPCEGP vs. Raytech Holding Limited | BPCEGP vs. Steven Madden | BPCEGP vs. Vera Bradley | BPCEGP vs. Timken Company |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device |