Correlation Between QBE Insurance and BOS BETTER
Can any of the company-specific risk be diversified away by investing in both QBE Insurance and BOS BETTER 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 QBE Insurance and BOS BETTER into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between QBE Insurance Group and BOS BETTER ONLINE, you can compare the effects of market volatilities on QBE Insurance and BOS BETTER 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 QBE Insurance with a short position of BOS BETTER. Check out your portfolio center. Please also check ongoing floating volatility patterns of QBE Insurance and BOS BETTER.
Diversification Opportunities for QBE Insurance and BOS BETTER
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between QBE and BOS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding QBE Insurance Group and BOS BETTER ONLINE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOS BETTER ONLINE and QBE Insurance 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 QBE Insurance Group are associated (or correlated) with BOS BETTER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOS BETTER ONLINE has no effect on the direction of QBE Insurance i.e., QBE Insurance and BOS BETTER go up and down completely randomly.
Pair Corralation between QBE Insurance and BOS BETTER
If you would invest 1,020 in QBE Insurance Group on September 4, 2024 and sell it today you would earn a total of 200.00 from holding QBE Insurance Group or generate 19.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
QBE Insurance Group vs. BOS BETTER ONLINE
Performance |
| Timeline |
| QBE Insurance Group |
| BOS BETTER ONLINE |
QBE Insurance and BOS BETTER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with QBE Insurance and BOS BETTER
The main advantage of trading using opposite QBE Insurance and BOS BETTER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if QBE Insurance position performs unexpectedly, BOS BETTER 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 BOS BETTER will offset losses from the drop in BOS BETTER's long position.| QBE Insurance vs. Hitachi Construction Machinery | QBE Insurance vs. INDOFOOD AGRI RES | QBE Insurance vs. Lery Seafood Group | QBE Insurance vs. HF FOODS GRP |
| BOS BETTER vs. TOTAL GABON | BOS BETTER vs. Walgreens Boots Alliance | BOS BETTER vs. Peak Resources Limited |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |