Correlation Between BLUERUSH Media and AirIQ

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

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

Diversification Opportunities for BLUERUSH Media and AirIQ

0.0

Correlation Coefficient

BLUERUSH Media  AirIQ

Pay attention - limited upside

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

Pair Corralation between BLUERUSH Media and AirIQ

If you would invest  1.00  in BLUERUSH Media Group on December 29, 2024 and sell it today you would earn a total of  0.00  from holding BLUERUSH Media Group or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

BLUERUSH Media Group  vs.  AirIQ Inc

BLUERUSH Media Group

Risk-Adjusted Performance

Very Weak

Over the last 90 days BLUERUSH Media Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable basic indicators, BLUERUSH Media is not utilizing all of its potentials. The current stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

AirIQ Inc

Risk-Adjusted Performance

Very Weak

Over the last 90 days AirIQ Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of abnormal performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in April 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Pair Trading with BLUERUSH Media and AirIQ

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

The idea behind BLUERUSH Media Group and AirIQ Inc 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.

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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.