Correlation Analysis Between DOW and Bloom Energy

This module allows you to analyze existing cross correlation between DOW and Bloom Energy Corporation. You can compare the effects of market volatilities on DOW and Bloom 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 DOW with a short position of Bloom Energy. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and Bloom Energy.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 
      Returns 

DOW  vs.  Bloom Energy Corp.

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.13 times more return on investment than Bloom Energy. However, DOW is 7.58 times less risky than Bloom Energy. It trades about 0.0 of its potential returns per unit of risk. Bloom Energy Corporation is currently generating about -0.2 per unit of risk. If you would invest  2,715,420  in DOW on September 17, 2019 and sell it today you would lose (15,222)  from holding DOW or give up 0.56% of portfolio value over 30 days.

Pair Corralation between DOW and Bloom Energy

0.19
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy88.73%
ValuesDaily Returns

Diversification Opportunities for DOW and Bloom Energy

DOW diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and Bloom Energy Corp. in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Bloom Energy and DOW 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 DOW are associated (or correlated) with Bloom Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bloom Energy has no effect on the direction of DOW i.e. DOW and Bloom Energy go up and down completely randomly.
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See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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