Correlation Between BW Offshore and Accelleron Industries
Can any of the company-specific risk be diversified away by investing in both BW Offshore and Accelleron Industries 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 BW Offshore and Accelleron Industries into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BW Offshore and Accelleron Industries AG, you can compare the effects of market volatilities on BW Offshore and Accelleron Industries 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 BW Offshore with a short position of Accelleron Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of BW Offshore and Accelleron Industries.
Diversification Opportunities for BW Offshore and Accelleron Industries
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 0RKH and Accelleron is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding BW Offshore and Accelleron Industries AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Accelleron Industries and BW Offshore 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 BW Offshore are associated (or correlated) with Accelleron Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Accelleron Industries has no effect on the direction of BW Offshore i.e., BW Offshore and Accelleron Industries go up and down completely randomly.
Pair Corralation between BW Offshore and Accelleron Industries
Assuming the 90 days trading horizon BW Offshore is expected to generate 1.45 times more return on investment than Accelleron Industries. However, BW Offshore is 1.45 times more volatile than Accelleron Industries AG. It trades about 0.11 of its potential returns per unit of risk. Accelleron Industries AG is currently generating about -0.09 per unit of risk. If you would invest 3,371 in BW Offshore on September 8, 2025 and sell it today you would earn a total of 464.00 from holding BW Offshore or generate 13.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BW Offshore vs. Accelleron Industries AG
Performance |
| Timeline |
| BW Offshore |
| Accelleron Industries |
BW Offshore and Accelleron Industries Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BW Offshore and Accelleron Industries
The main advantage of trading using opposite BW Offshore and Accelleron Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BW Offshore position performs unexpectedly, Accelleron Industries 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 Accelleron Industries will offset losses from the drop in Accelleron Industries' long position.| BW Offshore vs. Odfjell Drilling | BW Offshore vs. Gaztransport et Technigaz | BW Offshore vs. Capital Metals PLC | BW Offshore vs. Zanaga Iron Ore |
| Accelleron Industries vs. TechnipFMC PLC | Accelleron Industries vs. Ashtead Technology Holdings | Accelleron Industries vs. CAP LEASE AVIATION | Accelleron Industries vs. Premier Foods PLC |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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