Correlation Between AIM ETF and Amplify BlueStar

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

By analyzing existing cross correlation between AIM ETF Products and Amplify BlueStar Israel, you can compare the effects of market volatilities on AIM ETF and Amplify BlueStar 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 AIM ETF with a short position of Amplify BlueStar. Check out your portfolio center. Please also check ongoing floating volatility patterns of AIM ETF and Amplify BlueStar.

Diversification Opportunities for AIM ETF and Amplify BlueStar

0.34

Correlation Coefficient

AIM ETF  Amplify BlueStar

Weak diversification

The 3 months correlation between AIM and Amplify is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding AIM ETF Products and Amplify BlueStar Israel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplify BlueStar Israel and AIM ETF 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 AIM ETF Products are associated (or correlated) with Amplify BlueStar. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplify BlueStar Israel has no effect on the direction of AIM ETF i.e., AIM ETF and Amplify BlueStar go up and down completely randomly.

Pair Corralation between AIM ETF and Amplify BlueStar

Given the investment horizon of 90 days AIM ETF Products is expected to generate 0.37 times more return on investment than Amplify BlueStar. However, AIM ETF Products is 2.74 times less risky than Amplify BlueStar. It trades about 0.08 of its potential returns per unit of risk. Amplify BlueStar Israel is currently generating about 0.0 per unit of risk. If you would invest  3,457  in AIM ETF Products on October 8, 2025 and sell it today you would earn a total of  74.00  from holding AIM ETF Products or generate 2.14% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

AIM ETF Products  vs.  Amplify BlueStar Israel

AIM ETF Products

Risk-Adjusted Performance

Mild

Compared to the overall equity markets, risk-adjusted returns on investments in AIM ETF Products are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, AIM ETF is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Amplify BlueStar Israel

Risk-Adjusted Performance

Weakest

Over the last 90 days Amplify BlueStar Israel has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable technical and fundamental indicators, Amplify BlueStar is not utilizing all of its potentials. The newest stock price agitation, may contribute to short-term losses for the retail investors.

Pair Trading with AIM ETF and Amplify BlueStar

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

The idea behind AIM ETF Products and Amplify BlueStar Israel 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.