Correlation Between STAG Industrial, and Bemobi Mobile
Can any of the company-specific risk be diversified away by investing in both STAG Industrial, and Bemobi Mobile 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 STAG Industrial, and Bemobi Mobile into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between STAG Industrial, and Bemobi Mobile Tech, you can compare the effects of market volatilities on STAG Industrial, and Bemobi Mobile 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 STAG Industrial, with a short position of Bemobi Mobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of STAG Industrial, and Bemobi Mobile.
Diversification Opportunities for STAG Industrial, and Bemobi Mobile
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between STAG and Bemobi is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding STAG Industrial, and Bemobi Mobile Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bemobi Mobile Tech and STAG Industrial, 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 STAG Industrial, are associated (or correlated) with Bemobi Mobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bemobi Mobile Tech has no effect on the direction of STAG Industrial, i.e., STAG Industrial, and Bemobi Mobile go up and down completely randomly.
Pair Corralation between STAG Industrial, and Bemobi Mobile
Assuming the 90 days trading horizon STAG Industrial, is expected to generate 0.86 times more return on investment than Bemobi Mobile. However, STAG Industrial, is 1.16 times less risky than Bemobi Mobile. It trades about 0.05 of its potential returns per unit of risk. Bemobi Mobile Tech is currently generating about 0.04 per unit of risk. If you would invest 3,138 in STAG Industrial, on October 16, 2024 and sell it today you would earn a total of 866.00 from holding STAG Industrial, or generate 27.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.35% |
| Values | Daily Returns |
STAG Industrial, vs. Bemobi Mobile Tech
Performance |
| Timeline |
| STAG Industrial, |
| Bemobi Mobile Tech |
STAG Industrial, and Bemobi Mobile Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STAG Industrial, and Bemobi Mobile
The main advantage of trading using opposite STAG Industrial, and Bemobi Mobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STAG Industrial, position performs unexpectedly, Bemobi Mobile 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 Bemobi Mobile will offset losses from the drop in Bemobi Mobile's long position.| STAG Industrial, vs. Capital One Financial | STAG Industrial, vs. Synchrony Financial | STAG Industrial, vs. Ameriprise Financial | STAG Industrial, vs. CM Hospitalar SA |
| Bemobi Mobile vs. Intelbras SA | Bemobi Mobile vs. Neogrid Participaes SA | Bemobi Mobile vs. Mliuz SA | Bemobi Mobile vs. Locaweb Servios de |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk |