Correlation Between Bloomage Biotechnology and Quaker Chemical
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By analyzing existing cross correlation between Bloomage Biotechnology Corp and Quaker Chemical, you can compare the effects of market volatilities on Bloomage Biotechnology and Quaker Chemical 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 Bloomage Biotechnology with a short position of Quaker Chemical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bloomage Biotechnology and Quaker Chemical.
Diversification Opportunities for Bloomage Biotechnology and Quaker Chemical
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Bloomage and Quaker is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Bloomage Biotechnology Corp and Quaker Chemical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Quaker Chemical and Bloomage Biotechnology 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 Bloomage Biotechnology Corp are associated (or correlated) with Quaker Chemical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quaker Chemical has no effect on the direction of Bloomage Biotechnology i.e., Bloomage Biotechnology and Quaker Chemical go up and down completely randomly.
Pair Corralation between Bloomage Biotechnology and Quaker Chemical
Assuming the 90 days trading horizon Bloomage Biotechnology Corp is expected to under-perform the Quaker Chemical. But the stock apears to be less risky and, when comparing its historical volatility, Bloomage Biotechnology Corp is 1.81 times less risky than Quaker Chemical. The stock trades about -0.32 of its potential returns per unit of risk. The Quaker Chemical is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 13,950 in Quaker Chemical on September 13, 2025 and sell it today you would earn a total of 274.00 from holding Quaker Chemical or generate 1.96% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 92.06% |
| Values | Daily Returns |
Bloomage Biotechnology Corp vs. Quaker Chemical
Performance |
| Timeline |
| Bloomage Biotechnology |
| Quaker Chemical |
Bloomage Biotechnology and Quaker Chemical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bloomage Biotechnology and Quaker Chemical
The main advantage of trading using opposite Bloomage Biotechnology and Quaker Chemical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bloomage Biotechnology position performs unexpectedly, Quaker Chemical 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 Quaker Chemical will offset losses from the drop in Quaker Chemical's long position.| Bloomage Biotechnology vs. Zijin Mining Group | Bloomage Biotechnology vs. Baoshan Iron Steel | Bloomage Biotechnology vs. Rongsheng Petrochemical Co |
| Quaker Chemical vs. Olin Corporation | Quaker Chemical vs. Ashland Global Holdings | Quaker Chemical vs. Ingevity Corp | Quaker Chemical vs. WD 40 Company |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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