Correlation Between Keepers Holdings and Balai Ni

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

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

Diversification Opportunities for Keepers Holdings and Balai Ni

0.01

Correlation Coefficient

Keepers Holdings  Balai Ni

Significant diversification

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

Pair Corralation between Keepers Holdings and Balai Ni

Assuming the 90 days trading horizon Keepers Holdings is expected to generate 2.17 times less return on investment than Balai Ni. But when comparing it to its historical volatility, Keepers Holdings is 1.79 times less risky than Balai Ni. It trades about 0.06 of its potential returns per unit of risk. Balai Ni Fruitas is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  36.00  in Balai Ni Fruitas on April 21, 2025 and sell it today you would earn a total of  4.00  from holding Balai Ni Fruitas or generate 11.11% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	82.26%
Values	Daily Returns

Keepers Holdings  vs.  Balai Ni Fruitas

Keepers Holdings

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Keepers Holdings are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Even with relatively weak technical and fundamental indicators, Keepers Holdings may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Balai Ni Fruitas

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Balai Ni Fruitas are ranked lower than 6 (%) 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.

Pair Trading with Keepers Holdings and Balai Ni

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

The idea behind Keepers Holdings and Balai Ni Fruitas 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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.