Correlation Between BJs Wholesale and QKL Stores
Can any of the company-specific risk be diversified away by investing in both BJs Wholesale and QKL Stores 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 BJs Wholesale and QKL Stores into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BJs Wholesale Club and QKL Stores, you can compare the effects of market volatilities on BJs Wholesale and QKL Stores 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 BJs Wholesale with a short position of QKL Stores. Check out your portfolio center. Please also check ongoing floating volatility patterns of BJs Wholesale and QKL Stores.
Diversification Opportunities for BJs Wholesale and QKL Stores
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BJs and QKL is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BJs Wholesale Club and QKL Stores in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QKL Stores and BJs Wholesale 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 BJs Wholesale Club are associated (or correlated) with QKL Stores. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QKL Stores has no effect on the direction of BJs Wholesale i.e., BJs Wholesale and QKL Stores go up and down completely randomly.
Pair Corralation between BJs Wholesale and QKL Stores
If you would invest 0.01 in QKL Stores on August 31, 2025 and sell it today you would earn a total of 0.00 from holding QKL Stores or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.92% |
| Values | Daily Returns |
BJs Wholesale Club vs. QKL Stores
Performance |
| Timeline |
| BJs Wholesale Club |
| QKL Stores |
BJs Wholesale and QKL Stores Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BJs Wholesale and QKL Stores
The main advantage of trading using opposite BJs Wholesale and QKL Stores positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BJs Wholesale position performs unexpectedly, QKL Stores 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 QKL Stores will offset losses from the drop in QKL Stores' long position.| BJs Wholesale vs. Mako Mining Corp | BJs Wholesale vs. Astral Foods Limited | BJs Wholesale vs. BBB Foods | BJs Wholesale vs. Barrick Mining |
| QKL Stores vs. BJs Wholesale Club | QKL Stores vs. Dollar General | QKL Stores vs. Grocery Outlet Holding | QKL Stores vs. Kroger 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories |