Correlation Between Bold Ventures and AptarGroup
Can any of the company-specific risk be diversified away by investing in both Bold Ventures and AptarGroup 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 Bold Ventures and AptarGroup into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bold Ventures and AptarGroup, you can compare the effects of market volatilities on Bold Ventures and AptarGroup 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 Bold Ventures with a short position of AptarGroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bold Ventures and AptarGroup.
Diversification Opportunities for Bold Ventures and AptarGroup
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bold and AptarGroup is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Bold Ventures and AptarGroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AptarGroup and Bold Ventures 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 Bold Ventures are associated (or correlated) with AptarGroup. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AptarGroup has no effect on the direction of Bold Ventures i.e., Bold Ventures and AptarGroup go up and down completely randomly.
Pair Corralation between Bold Ventures and AptarGroup
Assuming the 90 days horizon Bold Ventures is expected to generate 17.9 times more return on investment than AptarGroup. However, Bold Ventures is 17.9 times more volatile than AptarGroup. It trades about 0.13 of its potential returns per unit of risk. AptarGroup is currently generating about -0.19 per unit of risk. If you would invest 1.25 in Bold Ventures on August 15, 2025 and sell it today you would earn a total of 2.24 from holding Bold Ventures or generate 179.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Bold Ventures vs. AptarGroup
Performance |
| Timeline |
| Bold Ventures |
| AptarGroup |
Bold Ventures and AptarGroup Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bold Ventures and AptarGroup
The main advantage of trading using opposite Bold Ventures and AptarGroup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bold Ventures position performs unexpectedly, AptarGroup 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 AptarGroup will offset losses from the drop in AptarGroup's long position.| Bold Ventures vs. Castile Resources Limited | Bold Ventures vs. Coda Minerals Limited | Bold Ventures vs. Vital Metals Limited | Bold Ventures vs. East Africa Metals |
| AptarGroup vs. Masimo | AptarGroup vs. Stevanato Group SpA | AptarGroup vs. Henry Schein | AptarGroup vs. Avantor |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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