Correlation Between BeLive Holdings and The9
Can any of the company-specific risk be diversified away by investing in both BeLive Holdings and The9 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 BeLive Holdings and The9 into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BeLive Holdings Ordinary and The9 Ltd ADR, you can compare the effects of market volatilities on BeLive Holdings and The9 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 BeLive Holdings with a short position of The9. Check out your portfolio center. Please also check ongoing floating volatility patterns of BeLive Holdings and The9.
Diversification Opportunities for BeLive Holdings and The9
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between BeLive and The9 is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding BeLive Holdings Ordinary and The9 Ltd ADR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on The9 Ltd ADR and BeLive Holdings 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 BeLive Holdings Ordinary are associated (or correlated) with The9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of The9 Ltd ADR has no effect on the direction of BeLive Holdings i.e., BeLive Holdings and The9 go up and down completely randomly.
Pair Corralation between BeLive Holdings and The9
Given the investment horizon of 90 days BeLive Holdings Ordinary is expected to generate 0.36 times more return on investment than The9. However, BeLive Holdings Ordinary is 2.78 times less risky than The9. It trades about -0.03 of its potential returns per unit of risk. The9 Ltd ADR is currently generating about -0.24 per unit of risk. If you would invest 365.00 in BeLive Holdings Ordinary on August 18, 2025 and sell it today you would lose (5.00) from holding BeLive Holdings Ordinary or give up 1.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
BeLive Holdings Ordinary vs. The9 Ltd ADR
Performance |
| Timeline |
| BeLive Holdings Ordinary |
| The9 Ltd ADR |
BeLive Holdings and The9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BeLive Holdings and The9
The main advantage of trading using opposite BeLive Holdings and The9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BeLive Holdings position performs unexpectedly, The9 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 The9 will offset losses from the drop in The9's long position.| BeLive Holdings vs. LivePerson | BeLive Holdings vs. Beamr Imaging Ltd | BeLive Holdings vs. Viewbix Common Stock | BeLive Holdings vs. Cloudastructure, Class A |
| The9 vs. Snail, Class A | The9 vs. BeLive Holdings Ordinary | The9 vs. SaverOne 2014 Ltd | The9 vs. mF International Limited |
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.
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