Correlation Between Blueone Card and Appen

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

By analyzing existing cross correlation between Blueone Card and Appen Limited, you can compare the effects of market volatilities on Blueone Card and Appen 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 Blueone Card with a short position of Appen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blueone Card and Appen.

Diversification Opportunities for Blueone Card and Appen

-0.14

Correlation Coefficient

Blueone Card  Appen

Good diversification

The 3 months correlation between Blueone and Appen is -0.14. Overlapping area represents the amount of risk that can be diversified away by holding Blueone Card and Appen Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Appen Limited and Blueone Card 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 Blueone Card are associated (or correlated) with Appen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Appen Limited has no effect on the direction of Blueone Card i.e., Blueone Card and Appen go up and down completely randomly.

Pair Corralation between Blueone Card and Appen

Given the investment horizon of 90 days Blueone Card is expected to generate 1.08 times more return on investment than Appen. However, Blueone Card is 1.08 times more volatile than Appen Limited. It trades about 0.11 of its potential returns per unit of risk. Appen Limited is currently generating about -0.08 per unit of risk. If you would invest  625.00  in Blueone Card on August 3, 2025 and sell it today you would earn a total of  225.00  from holding Blueone Card or generate 36.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	98.48%
Values	Daily Returns

Blueone Card  vs.  Appen Limited

Blueone Card

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Blueone Card are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of rather fragile basic indicators, Blueone Card exhibited solid returns over the last few months and may actually be approaching a breakup point.

Appen Limited

Risk-Adjusted Performance

Weakest

Over the last 90 days Appen Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's technical and fundamental indicators remain nearly stable which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with Blueone Card and Appen

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

The idea behind Blueone Card and Appen Limited 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.