Correlation Between Kubient and Beamr Imaging
Can any of the company-specific risk be diversified away by investing in both Kubient 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 Kubient and Beamr Imaging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kubient and Beamr Imaging Ltd, you can compare the effects of market volatilities on Kubient 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 Kubient with a short position of Beamr Imaging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kubient and Beamr Imaging.
Diversification Opportunities for Kubient and Beamr Imaging
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Kubient and Beamr is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Kubient and Beamr Imaging Ltd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beamr Imaging and Kubient 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 Kubient 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 Kubient i.e., Kubient and Beamr Imaging go up and down completely randomly.
Pair Corralation between Kubient and Beamr Imaging
If you would invest 57.00 in Kubient on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Kubient or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Kubient vs. Beamr Imaging Ltd
Performance |
| Timeline |
| Kubient |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Beamr Imaging |
Kubient and Beamr Imaging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kubient and Beamr Imaging
The main advantage of trading using opposite Kubient and Beamr Imaging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kubient 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.The idea behind Kubient and Beamr Imaging Ltd pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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