Correlation Between Beamr Imaging and Phunware
Can any of the company-specific risk be diversified away by investing in both Beamr Imaging and Phunware 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 Beamr Imaging and Phunware into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Beamr Imaging Ltd and Phunware, you can compare the effects of market volatilities on Beamr Imaging and Phunware 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 Beamr Imaging with a short position of Phunware. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beamr Imaging and Phunware.
Diversification Opportunities for Beamr Imaging and Phunware
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Beamr and Phunware is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Beamr Imaging Ltd and Phunware in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Phunware and Beamr Imaging 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 Beamr Imaging Ltd are associated (or correlated) with Phunware. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Phunware has no effect on the direction of Beamr Imaging i.e., Beamr Imaging and Phunware go up and down completely randomly.
Pair Corralation between Beamr Imaging and Phunware
Considering the 90-day investment horizon Beamr Imaging Ltd is expected to generate 1.01 times more return on investment than Phunware. However, Beamr Imaging is 1.01 times more volatile than Phunware. It trades about -0.06 of its potential returns per unit of risk. Phunware is currently generating about -0.06 per unit of risk. If you would invest 333.00 in Beamr Imaging Ltd on July 26, 2025 and sell it today you would lose (51.00) from holding Beamr Imaging Ltd or give up 15.32% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beamr Imaging Ltd vs. Phunware
Performance |
| Timeline |
| Beamr Imaging |
| Phunware |
Beamr Imaging and Phunware Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beamr Imaging and Phunware
The main advantage of trading using opposite Beamr Imaging and Phunware positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beamr Imaging position performs unexpectedly, Phunware 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 Phunware will offset losses from the drop in Phunware's long position.| Beamr Imaging vs. Aware Inc | Beamr Imaging vs. LivePerson | Beamr Imaging vs. Blackboxstocks | Beamr Imaging vs. Intellinetics |
| Phunware vs. KNOREX LTD | Phunware vs. Blackboxstocks | Phunware vs. Surgepays | Phunware vs. YXTCOM GROUP HOLDING |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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