Correlation Between Balai Ni and Keepers Holdings

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

By analyzing existing cross correlation between Balai Ni Fruitas and Keepers Holdings, you can compare the effects of market volatilities on Balai Ni and Keepers Holdings 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 Balai Ni with a short position of Keepers Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Balai Ni and Keepers Holdings.

Diversification Opportunities for Balai Ni and Keepers Holdings

0.01

Correlation Coefficient

Balai Ni  Keepers Holdings

Significant diversification

The 3 months correlation between Balai and Keepers is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Balai Ni Fruitas and Keepers Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keepers Holdings and Balai Ni 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 Balai Ni Fruitas are associated (or correlated) with Keepers Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keepers Holdings has no effect on the direction of Balai Ni i.e., Balai Ni and Keepers Holdings go up and down completely randomly.

Pair Corralation between Balai Ni and Keepers Holdings

Assuming the 90 days trading horizon Balai Ni Fruitas is expected to generate 1.94 times more return on investment than Keepers Holdings. However, Balai Ni is 1.94 times more volatile than Keepers Holdings. It trades about 0.1 of its potential returns per unit of risk. Keepers Holdings is currently generating about 0.02 per unit of risk. If you would invest  35.00  in Balai Ni Fruitas on April 22, 2025 and sell it today you would earn a total of  5.00  from holding Balai Ni Fruitas or generate 14.29% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	81.97%
Values	Daily Returns

Balai Ni Fruitas  vs.  Keepers Holdings

Balai Ni Fruitas

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Balai Ni Fruitas are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. Even with relatively weak essential indicators, Balai Ni reported solid returns over the last few months and may actually be approaching a breakup point.

Keepers Holdings

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Keepers Holdings are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Even with relatively invariable technical and fundamental indicators, Keepers Holdings is not utilizing all of its potentials. The latest stock price agitation, may contribute to short-term losses for the retail investors.

Pair Trading with Balai Ni and Keepers Holdings

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

The idea behind Balai Ni Fruitas and Keepers Holdings 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 Commodity Directory module to find actively traded commodities issued by global exchanges.