Correlation Between Bright Scholar and Bilibili
Can any of the company-specific risk be diversified away by investing in both Bright Scholar and Bilibili 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 Bright Scholar and Bilibili into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bright Scholar Education and Bilibili, you can compare the effects of market volatilities on Bright Scholar and Bilibili 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 Bright Scholar with a short position of Bilibili. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bright Scholar and Bilibili.
Diversification Opportunities for Bright Scholar and Bilibili
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Bright and Bilibili is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Bright Scholar Education and Bilibili in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bilibili and Bright Scholar 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 Bright Scholar Education are associated (or correlated) with Bilibili. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bilibili has no effect on the direction of Bright Scholar i.e., Bright Scholar and Bilibili go up and down completely randomly.
Pair Corralation between Bright Scholar and Bilibili
Given the investment horizon of 90 days Bright Scholar is expected to generate 4.29 times less return on investment than Bilibili. In addition to that, Bright Scholar is 1.04 times more volatile than Bilibili. It trades about 0.01 of its total potential returns per unit of risk. Bilibili is currently generating about 0.06 per unit of volatility. If you would invest 1,467 in Bilibili on June 11, 2025 and sell it today you would earn a total of 774.00 from holding Bilibili or generate 52.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.78% |
| Values | Daily Returns |
Bright Scholar Education vs. Bilibili
Performance |
| Timeline |
| Bright Scholar Education |
| Bilibili |
Bright Scholar and Bilibili Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bright Scholar and Bilibili
The main advantage of trading using opposite Bright Scholar and Bilibili positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bright Scholar position performs unexpectedly, Bilibili 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 Bilibili will offset losses from the drop in Bilibili's long position.| Bright Scholar vs. Sunlands Technology Group | Bright Scholar vs. American Public Education | Bright Scholar vs. Ihuman Inc | Bright Scholar vs. Adtalem Global Education |
| Bilibili vs. NetEase | Bilibili vs. Roblox Corp | Bilibili vs. Skillz Platform | Bilibili vs. Take Two Interactive Software |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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