Correlation Between Brenmiller Energy and FlyExclusive,

Can any of the company-specific risk be diversified away by investing in both Brenmiller Energy and FlyExclusive, 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 Brenmiller Energy and FlyExclusive, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Brenmiller Energy Ltd and flyExclusive,, you can compare the effects of market volatilities on Brenmiller Energy and FlyExclusive, 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 Brenmiller Energy with a short position of FlyExclusive,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Brenmiller Energy and FlyExclusive,.

Diversification Opportunities for Brenmiller Energy and FlyExclusive,

0.27

Correlation Coefficient

Brenmiller Energy  FlyExclusive,

Modest diversification

The 3 months correlation between Brenmiller and FlyExclusive, is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Brenmiller Energy Ltd and flyExclusive, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on flyExclusive, and Brenmiller Energy 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 Brenmiller Energy Ltd are associated (or correlated) with FlyExclusive,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of flyExclusive, has no effect on the direction of Brenmiller Energy i.e., Brenmiller Energy and FlyExclusive, go up and down completely randomly.

Pair Corralation between Brenmiller Energy and FlyExclusive,

Given the investment horizon of 90 days Brenmiller Energy Ltd is expected to generate 1.45 times more return on investment than FlyExclusive,. However, Brenmiller Energy is 1.45 times more volatile than flyExclusive,. It trades about 0.08 of its potential returns per unit of risk. flyExclusive, is currently generating about -0.04 per unit of risk. If you would invest  87.00  in Brenmiller Energy Ltd on September 26, 2024 and sell it today you would earn a total of  18.00  from holding Brenmiller Energy Ltd or generate 20.69% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Brenmiller Energy Ltd  vs.  flyExclusive,

Brenmiller Energy

Risk-Adjusted Performance

6 of 100

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Brenmiller Energy Ltd are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly abnormal basic indicators, Brenmiller Energy reported solid returns over the last few months and may actually be approaching a breakup point.

flyExclusive,

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days flyExclusive, has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest abnormal performance, the Stock's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Pair Trading with Brenmiller Energy and FlyExclusive,

The main advantage of trading using opposite Brenmiller Energy and FlyExclusive, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Brenmiller Energy position performs unexpectedly, FlyExclusive, 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 FlyExclusive, will offset losses from the drop in FlyExclusive,'s long position.

The idea behind Brenmiller Energy Ltd and flyExclusive, pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..