Correlation Between Beijing Bewinner and TIM Participacoes
Specify exactly 2 symbols:
By analyzing existing cross correlation between Beijing Bewinner Communications and TIM Participacoes SA, you can compare the effects of market volatilities on Beijing Bewinner and TIM Participacoes 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 Beijing Bewinner with a short position of TIM Participacoes. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Bewinner and TIM Participacoes.
Diversification Opportunities for Beijing Bewinner and TIM Participacoes
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Beijing and TIM is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Bewinner Communication and TIM Participacoes SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TIM Participacoes and Beijing Bewinner 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 Beijing Bewinner Communications are associated (or correlated) with TIM Participacoes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TIM Participacoes has no effect on the direction of Beijing Bewinner i.e., Beijing Bewinner and TIM Participacoes go up and down completely randomly.
Pair Corralation between Beijing Bewinner and TIM Participacoes
Assuming the 90 days trading horizon Beijing Bewinner Communications is expected to under-perform the TIM Participacoes. In addition to that, Beijing Bewinner is 2.01 times more volatile than TIM Participacoes SA. It trades about -0.23 of its total potential returns per unit of risk. TIM Participacoes SA is currently generating about 0.15 per unit of volatility. If you would invest 2,041 in TIM Participacoes SA on August 17, 2025 and sell it today you would earn a total of 302.00 from holding TIM Participacoes SA or generate 14.8% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 92.19% |
| Values | Daily Returns |
Beijing Bewinner Communication vs. TIM Participacoes SA
Performance |
| Timeline |
| Beijing Bewinner Com |
| TIM Participacoes |
Beijing Bewinner and TIM Participacoes Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Bewinner and TIM Participacoes
The main advantage of trading using opposite Beijing Bewinner and TIM Participacoes positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Bewinner position performs unexpectedly, TIM Participacoes 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 TIM Participacoes will offset losses from the drop in TIM Participacoes' long position.| Beijing Bewinner vs. Allwin Telecommunication Co | Beijing Bewinner vs. Hinova Pharmaceuticals A | Beijing Bewinner vs. QuantumCTek Co | Beijing Bewinner vs. Shanghai Broadband Technology |
| TIM Participacoes vs. KT Corporation | TIM Participacoes vs. Liberty Broadband Srs | TIM Participacoes vs. SK Telecom Co | TIM Participacoes vs. Frontier Communications Parent |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
Other Complementary Tools
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk |