Correlation Between Bell Food and Halyk Bank

Can any of the company-specific risk be diversified away by investing in both Bell Food and Halyk Bank 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 Bell Food and Halyk Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Bell Food Group and Halyk Bank of, you can compare the effects of market volatilities on Bell Food and Halyk Bank 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 Bell Food with a short position of Halyk Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bell Food and Halyk Bank.

Diversification Opportunities for Bell Food and Halyk Bank

0.0

Correlation Coefficient

Bell Food  Halyk Bank

Pay attention - limited upside

The 3 months correlation between Bell and Halyk is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bell Food Group and Halyk Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Halyk Bank and Bell Food 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 Bell Food Group are associated (or correlated) with Halyk Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Halyk Bank has no effect on the direction of Bell Food i.e., Bell Food and Halyk Bank go up and down completely randomly.

Pair Corralation between Bell Food and Halyk Bank

If you would invest  26,500  in Bell Food Group on October 1, 2024 and sell it today you would earn a total of  150.00  from holding Bell Food Group or generate 0.57% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	1.67%
Values	Daily Returns

Bell Food Group  vs.  Halyk Bank of

Bell Food Group

Risk-Adjusted Performance

1 of 100

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Bell Food Group are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, Bell Food is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Halyk Bank

Risk-Adjusted Performance

12 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Halyk Bank of are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak basic indicators, Halyk Bank unveiled solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Bell Food and Halyk Bank

The main advantage of trading using opposite Bell Food and Halyk Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bell Food position performs unexpectedly, Halyk Bank 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 Halyk Bank will offset losses from the drop in Halyk Bank's long position.

The idea behind Bell Food Group and Halyk Bank of 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.

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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..