Correlation Between Blackline and Bitdeer Technologies
Can any of the company-specific risk be diversified away by investing in both Blackline and Bitdeer Technologies 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 Blackline and Bitdeer Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blackline and Bitdeer Technologies Group, you can compare the effects of market volatilities on Blackline and Bitdeer Technologies 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 Blackline with a short position of Bitdeer Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blackline and Bitdeer Technologies.
Diversification Opportunities for Blackline and Bitdeer Technologies
-0.56 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Blackline and Bitdeer is -0.56. Overlapping area represents the amount of risk that can be diversified away by holding Blackline and Bitdeer Technologies Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bitdeer Technologies and Blackline 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 Blackline are associated (or correlated) with Bitdeer Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bitdeer Technologies has no effect on the direction of Blackline i.e., Blackline and Bitdeer Technologies go up and down completely randomly.
Pair Corralation between Blackline and Bitdeer Technologies
Allowing for the 90-day total investment horizon Blackline is expected to generate 0.25 times more return on investment than Bitdeer Technologies. However, Blackline is 3.94 times less risky than Bitdeer Technologies. It trades about 0.09 of its potential returns per unit of risk. Bitdeer Technologies Group is currently generating about -0.08 per unit of risk. If you would invest 5,042 in Blackline on October 9, 2025 and sell it today you would earn a total of 517.00 from holding Blackline or generate 10.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blackline vs. Bitdeer Technologies Group
Performance |
| Timeline |
| Blackline |
| Bitdeer Technologies |
Blackline and Bitdeer Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blackline and Bitdeer Technologies
The main advantage of trading using opposite Blackline and Bitdeer Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blackline position performs unexpectedly, Bitdeer Technologies 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 Bitdeer Technologies will offset losses from the drop in Bitdeer Technologies' long position.| Blackline vs. Dave Inc | Blackline vs. Agilysys | Blackline vs. Pattern Group Series | Blackline vs. Asana Inc |
| Bitdeer Technologies vs. CleanSpark | Bitdeer Technologies vs. OneStream Class A | Bitdeer Technologies vs. Workiva | Bitdeer Technologies vs. Webull Corp |
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 Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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