Correlation Between BioNTech and Arcosa
Can any of the company-specific risk be diversified away by investing in both BioNTech and Arcosa 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 BioNTech and Arcosa into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BioNTech SE and Arcosa Inc, you can compare the effects of market volatilities on BioNTech and Arcosa 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 BioNTech with a short position of Arcosa. Check out your portfolio center. Please also check ongoing floating volatility patterns of BioNTech and Arcosa.
Diversification Opportunities for BioNTech and Arcosa
Good diversification
The 3 months correlation between BioNTech and Arcosa is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding BioNTech SE and Arcosa Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Arcosa Inc and BioNTech 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 BioNTech SE are associated (or correlated) with Arcosa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Arcosa Inc has no effect on the direction of BioNTech i.e., BioNTech and Arcosa go up and down completely randomly.
Pair Corralation between BioNTech and Arcosa
Given the investment horizon of 90 days BioNTech SE is expected to under-perform the Arcosa. In addition to that, BioNTech is 1.36 times more volatile than Arcosa Inc. It trades about -0.01 of its total potential returns per unit of risk. Arcosa Inc is currently generating about 0.09 per unit of volatility. If you would invest 9,564 in Arcosa Inc on September 3, 2025 and sell it today you would earn a total of 1,045 from holding Arcosa Inc or generate 10.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
BioNTech SE vs. Arcosa Inc
Performance |
| Timeline |
| BioNTech SE |
| Arcosa Inc |
BioNTech and Arcosa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BioNTech and Arcosa
The main advantage of trading using opposite BioNTech and Arcosa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BioNTech position performs unexpectedly, Arcosa 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 Arcosa will offset losses from the drop in Arcosa's long position.| BioNTech vs. AG Mortgage Investment | BioNTech vs. Western Asset Investment | BioNTech vs. Puhui Wealth Investment | BioNTech vs. Fair Isaac |
| Arcosa vs. TAL Education Group | Arcosa vs. Coffee Holding Co | Arcosa vs. Strategic Education | Arcosa vs. Luckin Coffee |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |