Correlation Between Ollies Bargain and Boqii Holding
Can any of the company-specific risk be diversified away by investing in both Ollies Bargain and Boqii Holding 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 Ollies Bargain and Boqii Holding into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ollies Bargain Outlet and Boqii Holding Limited, you can compare the effects of market volatilities on Ollies Bargain and Boqii Holding 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 Ollies Bargain with a short position of Boqii Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ollies Bargain and Boqii Holding.
Diversification Opportunities for Ollies Bargain and Boqii Holding
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Ollies and Boqii is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Ollies Bargain Outlet and Boqii Holding Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boqii Holding Limited and Ollies Bargain 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 Ollies Bargain Outlet are associated (or correlated) with Boqii Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Boqii Holding Limited has no effect on the direction of Ollies Bargain i.e., Ollies Bargain and Boqii Holding go up and down completely randomly.
Pair Corralation between Ollies Bargain and Boqii Holding
Given the investment horizon of 90 days Ollies Bargain Outlet is expected to under-perform the Boqii Holding. But the stock apears to be less risky and, when comparing its historical volatility, Ollies Bargain Outlet is 14.93 times less risky than Boqii Holding. The stock trades about -0.07 of its potential returns per unit of risk. The Boqii Holding Limited is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 266.00 in Boqii Holding Limited on July 25, 2025 and sell it today you would earn a total of 475.00 from holding Boqii Holding Limited or generate 178.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ollies Bargain Outlet vs. Boqii Holding Limited
Performance |
| Timeline |
| Ollies Bargain Outlet |
| Boqii Holding Limited |
Ollies Bargain and Boqii Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ollies Bargain and Boqii Holding
The main advantage of trading using opposite Ollies Bargain and Boqii Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ollies Bargain position performs unexpectedly, Boqii Holding 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 Boqii Holding will offset losses from the drop in Boqii Holding's long position.| Ollies Bargain vs. Ingredion Incorporated | Ollies Bargain vs. ELF Beauty | Ollies Bargain vs. Smithfield Foods, Common | Ollies Bargain vs. Lamb Weston Holdings |
| Boqii Holding vs. Jowell Global | Boqii Holding vs. Jeffs Brands | Boqii Holding vs. E Home Household Service | Boqii Holding vs. Naas Technology ADR |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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