Correlation Between SMX Public and BloomZ Ordinary
Can any of the company-specific risk be diversified away by investing in both SMX Public and BloomZ Ordinary 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 SMX Public and BloomZ Ordinary into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SMX Public Limited and BloomZ Ordinary Shares, you can compare the effects of market volatilities on SMX Public and BloomZ Ordinary 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 SMX Public with a short position of BloomZ Ordinary. Check out your portfolio center. Please also check ongoing floating volatility patterns of SMX Public and BloomZ Ordinary.
Diversification Opportunities for SMX Public and BloomZ Ordinary
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between SMX and BloomZ is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding SMX Public Limited and BloomZ Ordinary Shares in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BloomZ Ordinary Shares and SMX Public 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 SMX Public Limited are associated (or correlated) with BloomZ Ordinary. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BloomZ Ordinary Shares has no effect on the direction of SMX Public i.e., SMX Public and BloomZ Ordinary go up and down completely randomly.
Pair Corralation between SMX Public and BloomZ Ordinary
Considering the 90-day investment horizon SMX Public Limited is expected to generate 3.2 times more return on investment than BloomZ Ordinary. However, SMX Public is 3.2 times more volatile than BloomZ Ordinary Shares. It trades about 0.1 of its potential returns per unit of risk. BloomZ Ordinary Shares is currently generating about -0.33 per unit of risk. If you would invest 11,772 in SMX Public Limited on October 9, 2025 and sell it today you would lose (9,844) from holding SMX Public Limited or give up 83.62% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SMX Public Limited vs. BloomZ Ordinary Shares
Performance |
| Timeline |
| SMX Public Limited |
| BloomZ Ordinary Shares |
SMX Public and BloomZ Ordinary Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SMX Public and BloomZ Ordinary
The main advantage of trading using opposite SMX Public and BloomZ Ordinary positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SMX Public position performs unexpectedly, BloomZ Ordinary 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 BloomZ Ordinary will offset losses from the drop in BloomZ Ordinary's long position.| SMX Public vs. Zoomcar Holdings | SMX Public vs. LogicMark | SMX Public vs. C3is Inc | SMX Public vs. Rain Enhancement Technologies |
| BloomZ Ordinary vs. Lichen China Limited | BloomZ Ordinary vs. Singularity Future Technology | BloomZ Ordinary vs. Digital Ally | BloomZ Ordinary vs. StableX Technologies |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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