Correlation Between Burcon NutraScience and Clean Seas
Can any of the company-specific risk be diversified away by investing in both Burcon NutraScience and Clean Seas 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 Burcon NutraScience and Clean Seas into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Burcon NutraScience Corp and Clean Seas Seafood, you can compare the effects of market volatilities on Burcon NutraScience and Clean Seas 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 Burcon NutraScience with a short position of Clean Seas. Check out your portfolio center. Please also check ongoing floating volatility patterns of Burcon NutraScience and Clean Seas.
Diversification Opportunities for Burcon NutraScience and Clean Seas
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Burcon and Clean is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Burcon NutraScience Corp and Clean Seas Seafood in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Clean Seas Seafood and Burcon NutraScience 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 Burcon NutraScience Corp are associated (or correlated) with Clean Seas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Clean Seas Seafood has no effect on the direction of Burcon NutraScience i.e., Burcon NutraScience and Clean Seas go up and down completely randomly.
Pair Corralation between Burcon NutraScience and Clean Seas
If you would invest 8.00 in Clean Seas Seafood on August 13, 2025 and sell it today you would earn a total of 0.00 from holding Clean Seas Seafood or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
Burcon NutraScience Corp vs. Clean Seas Seafood
Performance |
| Timeline |
| Burcon NutraScience Corp |
| Clean Seas Seafood |
Risk-Adjusted Performance
Weakest
Weak | Strong |
Burcon NutraScience and Clean Seas Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Burcon NutraScience and Clean Seas
The main advantage of trading using opposite Burcon NutraScience and Clean Seas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Burcon NutraScience position performs unexpectedly, Clean Seas 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 Clean Seas will offset losses from the drop in Clean Seas' long position.| Burcon NutraScience vs. Kun Peng International | Burcon NutraScience vs. DAVIDsTEA | Burcon NutraScience vs. Swiss Water Decaffeinated | Burcon NutraScience vs. Preferred Commerce |
| Clean Seas vs. Big Rock Brewery | Clean Seas vs. Colabor Group | Clean Seas vs. China Tontine Wines | Clean Seas vs. Preferred Commerce |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |