Correlation Between BLUERUSH Media and Advanced Micro
Can any of the company-specific risk be diversified away by investing in both BLUERUSH Media and Advanced Micro 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 BLUERUSH Media and Advanced Micro into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BLUERUSH Media Group and Advanced Micro Devices, you can compare the effects of market volatilities on BLUERUSH Media and Advanced Micro 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 BLUERUSH Media with a short position of Advanced Micro. Check out your portfolio center. Please also check ongoing floating volatility patterns of BLUERUSH Media and Advanced Micro.
Diversification Opportunities for BLUERUSH Media and Advanced Micro
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BLUERUSH and Advanced is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding BLUERUSH Media Group and Advanced Micro Devices in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Advanced Micro Devices and BLUERUSH Media 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 BLUERUSH Media Group are associated (or correlated) with Advanced Micro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Advanced Micro Devices has no effect on the direction of BLUERUSH Media i.e., BLUERUSH Media and Advanced Micro go up and down completely randomly.
Pair Corralation between BLUERUSH Media and Advanced Micro
Assuming the 90 days horizon BLUERUSH Media is expected to generate 2.46 times less return on investment than Advanced Micro. In addition to that, BLUERUSH Media is 2.47 times more volatile than Advanced Micro Devices. It trades about 0.02 of its total potential returns per unit of risk. Advanced Micro Devices is currently generating about 0.11 per unit of volatility. If you would invest 2,114 in Advanced Micro Devices on August 21, 2025 and sell it today you would earn a total of 2,143 from holding Advanced Micro Devices or generate 101.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 68.86% |
| Values | Daily Returns |
BLUERUSH Media Group vs. Advanced Micro Devices
Performance |
| Timeline |
| BLUERUSH Media Group |
| Advanced Micro Devices |
BLUERUSH Media and Advanced Micro Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with BLUERUSH Media and Advanced Micro
The main advantage of trading using opposite BLUERUSH Media and Advanced Micro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BLUERUSH Media position performs unexpectedly, Advanced Micro 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 Advanced Micro will offset losses from the drop in Advanced Micro's long position.| BLUERUSH Media vs. Titanium Transportation Group | BLUERUSH Media vs. Canaf Investments | BLUERUSH Media vs. Totally Hip Technologies | BLUERUSH Media vs. FTI Foodtech International |
| Advanced Micro vs. NVIDIA CDR | Advanced Micro vs. Advanced Micro Devices | Advanced Micro vs. Micron Technology, | Advanced Micro vs. QUALCOMM Incorporated |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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