Correlation Between BioSig Technologies, and Norfolk

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

By analyzing existing cross correlation between BioSig Technologies, Common and Norfolk Southern Corp, you can compare the effects of market volatilities on BioSig Technologies, and Norfolk 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 BioSig Technologies, with a short position of Norfolk. Check out your portfolio center. Please also check ongoing floating volatility patterns of BioSig Technologies, and Norfolk.

Diversification Opportunities for BioSig Technologies, and Norfolk

-0.83

Correlation Coefficient

BioSig Technologies,  Norfolk

Pay attention - limited upside

The 3 months correlation between BioSig and Norfolk is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding BioSig Technologies, Common and Norfolk Southern Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Norfolk Southern Corp and BioSig Technologies, 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 BioSig Technologies, Common are associated (or correlated) with Norfolk. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Norfolk Southern Corp has no effect on the direction of BioSig Technologies, i.e., BioSig Technologies, and Norfolk go up and down completely randomly.

Pair Corralation between BioSig Technologies, and Norfolk

Given the investment horizon of 90 days BioSig Technologies, Common is expected to generate 9.76 times more return on investment than Norfolk. However, BioSig Technologies, is 9.76 times more volatile than Norfolk Southern Corp. It trades about 0.21 of its potential returns per unit of risk. Norfolk Southern Corp is currently generating about -0.11 per unit of risk. If you would invest  34.00  in BioSig Technologies, Common on September 23, 2024 and sell it today you would earn a total of  100.00  from holding BioSig Technologies, Common or generate 294.12% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Significant
Accuracy	75.38%
Values	Daily Returns

BioSig Technologies, Common  vs.  Norfolk Southern Corp

BioSig Technologies,

Risk-Adjusted Performance

16 of 100

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in BioSig Technologies, Common are ranked lower than 16 (%) of all global equities and portfolios over the last 90 days. In spite of very unsteady technical and fundamental indicators, BioSig Technologies, displayed solid returns over the last few months and may actually be approaching a breakup point.

Norfolk Southern Corp

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Norfolk Southern Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest unfluctuating performance, the Bond's basic indicators remain strong and the current disturbance on Wall Street may also be a sign of long term gains for Norfolk Southern Corp investors.

Pair Trading with BioSig Technologies, and Norfolk

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

The idea behind BioSig Technologies, Common and Norfolk Southern Corp 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.

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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.