Correlation Between Impact Fusion and Baosheng Media
Can any of the company-specific risk be diversified away by investing in both Impact Fusion and Baosheng Media 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 Impact Fusion and Baosheng Media into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Impact Fusion International and Baosheng Media Group, you can compare the effects of market volatilities on Impact Fusion and Baosheng Media 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 Impact Fusion with a short position of Baosheng Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Impact Fusion and Baosheng Media.
Diversification Opportunities for Impact Fusion and Baosheng Media
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Impact and Baosheng is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Impact Fusion International and Baosheng Media Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Baosheng Media Group and Impact Fusion 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 Impact Fusion International are associated (or correlated) with Baosheng Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Baosheng Media Group has no effect on the direction of Impact Fusion i.e., Impact Fusion and Baosheng Media go up and down completely randomly.
Pair Corralation between Impact Fusion and Baosheng Media
Given the investment horizon of 90 days Impact Fusion International is expected to under-perform the Baosheng Media. But the pink sheet apears to be less risky and, when comparing its historical volatility, Impact Fusion International is 1.25 times less risky than Baosheng Media. The pink sheet trades about -0.03 of its potential returns per unit of risk. The Baosheng Media Group is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 186.00 in Baosheng Media Group on May 1, 2025 and sell it today you would earn a total of 114.00 from holding Baosheng Media Group or generate 61.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.39% |
| Values | Daily Returns |
Impact Fusion International vs. Baosheng Media Group
Performance |
| Timeline |
| Impact Fusion Intern |
| Baosheng Media Group |
Impact Fusion and Baosheng Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Impact Fusion and Baosheng Media
The main advantage of trading using opposite Impact Fusion and Baosheng Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Impact Fusion position performs unexpectedly, Baosheng Media 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 Baosheng Media will offset losses from the drop in Baosheng Media's long position.| Impact Fusion vs. Global Payout | Impact Fusion vs. Clubhouse Media Group | Impact Fusion vs. ZW Data Action | Impact Fusion vs. JPX Global |
| Baosheng Media vs. Liberty Media | Baosheng Media vs. Madison Square Garden | Baosheng Media vs. News Corp A | Baosheng Media vs. Expedia Group |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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