Correlation Between Batm Advanced and Apollo Power

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

By analyzing existing cross correlation between Batm Advanced Communications and Apollo Power, you can compare the effects of market volatilities on Batm Advanced and Apollo Power 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 Batm Advanced with a short position of Apollo Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of Batm Advanced and Apollo Power.

Diversification Opportunities for Batm Advanced and Apollo Power

0.0

Correlation Coefficient

Batm Advanced  Apollo Power

Pay attention - limited upside

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

Pair Corralation between Batm Advanced and Apollo Power

If you would invest  7,050  in Batm Advanced Communications on April 24, 2025 and sell it today you would earn a total of  0.00  from holding Batm Advanced Communications or generate 0.0% return on investment over 90 days.

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

Batm Advanced Communications  vs.  Apollo Power

Batm Advanced Commun

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Batm Advanced Communications are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite somewhat strong fundamental indicators, Batm Advanced is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Apollo Power

Risk-Adjusted Performance

Solid

Over the last 90 days Apollo Power has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Apollo Power is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Batm Advanced and Apollo Power

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

The idea behind Batm Advanced Communications and Apollo Power 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.