Correlation Analysis Between B Communications and BT Group

This module allows you to analyze existing cross correlation between B Communications Ltd and BT Group plc. You can compare the effects of market volatilities on B Communications and BT Group 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 B Communications with a short position of BT Group. See also your portfolio center. Please also check ongoing floating volatility patterns of B Communications and BT Group.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

B Communications  
00

Risk-Adjusted Performance

Over the last 30 days B Communications Ltd has generated negative risk-adjusted returns adding no value to investors with long positions. Even with fragile performance in the last few months, the Stock's technical indicators remain considerably steady which may send shares a bit higher in October 2019. The new chaos may also be a sign of medium term up-swing for the business stakeholders.
BT Group plc  
00

Risk-Adjusted Performance

Over the last 30 days BT Group plc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fragile performance in the last few months, the Stock's essential indicators remain comparatively unchanging which may send shares a bit higher in October 2019. The late uproar may also be a sign of mid-term up-swing for the firm leadership.

B Communications and BT Group Volatility Contrast

 Predicted Return Density 
      Returns 

B Communications Ltd  vs.  BT Group plc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, B Communications Ltd is expected to under-perform the BT Group. In addition to that, B Communications is 3.63 times more volatile than BT Group plc. It trades about -0.1 of its total potential returns per unit of risk. BT Group plc is currently generating about -0.17 per unit of volatility. If you would invest  1,234  in BT Group plc on August 20, 2019 and sell it today you would lose (177.00)  from holding BT Group plc or give up 14.34% of portfolio value over 30 days.

Pair Corralation between B Communications and BT Group

0.47
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for B Communications and BT Group

B Communications Ltd diversification synergy

Very weak diversification

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