Correlation Between Beamr Imaging and INPX Old

Can any of the company-specific risk be diversified away by investing in both Beamr Imaging and INPX Old 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 Beamr Imaging and INPX Old into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Beamr Imaging Ltd and INPX Old, you can compare the effects of market volatilities on Beamr Imaging and INPX Old 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 Beamr Imaging with a short position of INPX Old. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beamr Imaging and INPX Old.

Diversification Opportunities for Beamr Imaging and INPX Old

0.0

Correlation Coefficient

Beamr Imaging  INPX Old

Pay attention - limited upside

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

Pair Corralation between Beamr Imaging and INPX Old

If you would invest (100.00) in INPX Old on November 28, 2024 and sell it today you would earn a total of  100.00  from holding INPX Old or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Beamr Imaging Ltd  vs.  INPX Old

Beamr Imaging

Risk-Adjusted Performance

Very Weak

Over the last 90 days Beamr Imaging Ltd has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable primary indicators, Beamr Imaging is not utilizing all of its potentials. The current stock price agitation, may contribute to short-term losses for the retail investors.

INPX Old

Risk-Adjusted Performance

Very Weak

Over the last 90 days INPX Old has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, INPX Old is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Beamr Imaging and INPX Old

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

The idea behind Beamr Imaging Ltd and INPX Old 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.