Correlation Between Bristow and Highpeak Energy
Can any of the company-specific risk be diversified away by investing in both Bristow and Highpeak Energy 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 Bristow and Highpeak Energy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bristow Group and Highpeak Energy Acquisition, you can compare the effects of market volatilities on Bristow and Highpeak Energy 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 Bristow with a short position of Highpeak Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bristow and Highpeak Energy.
Diversification Opportunities for Bristow and Highpeak Energy
-0.27 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bristow and Highpeak is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Bristow Group and Highpeak Energy Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Highpeak Energy Acqu and Bristow 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 Bristow Group are associated (or correlated) with Highpeak Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Highpeak Energy Acqu has no effect on the direction of Bristow i.e., Bristow and Highpeak Energy go up and down completely randomly.
Pair Corralation between Bristow and Highpeak Energy
Given the investment horizon of 90 days Bristow Group is expected to generate 0.57 times more return on investment than Highpeak Energy. However, Bristow Group is 1.76 times less risky than Highpeak Energy. It trades about 0.02 of its potential returns per unit of risk. Highpeak Energy Acquisition is currently generating about -0.09 per unit of risk. If you would invest 3,820 in Bristow Group on August 17, 2025 and sell it today you would earn a total of 64.00 from holding Bristow Group or generate 1.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bristow Group vs. Highpeak Energy Acquisition
Performance |
| Timeline |
| Bristow Group |
| Highpeak Energy Acqu |
Bristow and Highpeak Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bristow and Highpeak Energy
The main advantage of trading using opposite Bristow and Highpeak Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bristow position performs unexpectedly, Highpeak Energy 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 Highpeak Energy will offset losses from the drop in Highpeak Energy's long position.| Bristow vs. National Energy Services | Bristow vs. RPC Inc | Bristow vs. Innovex International, | Bristow vs. Vermilion Energy |
| Highpeak Energy vs. Nabors Industries | Highpeak Energy vs. Vitesse Energy | Highpeak Energy vs. MorningStar Partners, LP | Highpeak Energy vs. Borr Drilling |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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