Correlation Between Champion Iron and BLUERUSH Media

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

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

Diversification Opportunities for Champion Iron and BLUERUSH Media

0.0

Correlation Coefficient

Champion Iron  BLUERUSH Media

Pay attention - limited upside

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

Pair Corralation between Champion Iron and BLUERUSH Media

If you would invest  373.00  in Champion Iron on April 25, 2025 and sell it today you would earn a total of  96.00  from holding Champion Iron or generate 25.74% return on investment over 90 days.

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

Champion Iron  vs.  BLUERUSH Media Group

Champion Iron

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Champion Iron are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. In spite of very unfluctuating basic indicators, Champion Iron displayed solid returns over the last few months and may actually be approaching a breakup point.

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 recent stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Pair Trading with Champion Iron and BLUERUSH Media

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

The idea behind Champion Iron and BLUERUSH Media Group 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.