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Correlation Between B Communications and Cincinnati Bell

Analyzing existing cross correlation between B Communications Ltd and Cincinnati Bell. You can compare the effects of market volatilities on B Communications and Cincinnati Bell 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 Cincinnati Bell. Check out your portfolio center. Please also check ongoing floating volatility patterns of B Communications and Cincinnati Bell.

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Diversification Opportunities for B Communications and Cincinnati Bell

B Communications Ltd diversification synergy
-0.71
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<div class='circular--portrait-small' style='background:#FF9E01;color: white;font-size:1.6em;padding-top: 6px;;'>CI</div>

Pay attention - limited upside

The 3 months correlation between B Communications and Cincinnati is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding B Communications Ltd and Cincinnati Bell Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Cincinnati Bell 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 Cincinnati Bell. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cincinnati Bell has no effect on the direction of B Communications i.e. B Communications and Cincinnati Bell go up and down completely randomly.

Pair Corralation between B Communications and Cincinnati Bell

Given the investment horizon of 30 days, B Communications Ltd is expected to under-perform the Cincinnati Bell. But the stock apears to be less risky and, when comparing its historical volatility, B Communications Ltd is 1.46 times less risky than Cincinnati Bell. The stock trades about -0.12 of its potential returns per unit of risk. The Cincinnati Bell is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  644.00  in Cincinnati Bell on January 29, 2020 and sell it today you would earn a total of  588.00  from holding Cincinnati Bell or generate 91.3% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

B Communications Ltd  vs.  Cincinnati Bell Inc

 Performance (%) 
    
  Timeline 
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 uncertain performance in the last few months, the Stock's technical indicators remain considerably steady which may send shares a bit higher in March 2020. The new chaos may also be a sign of medium term up-swing for the business stakeholders.
Cincinnati Bell 
1414

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Cincinnati Bell are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days. Despite somewhat uncertain basic indicators, Cincinnati Bell sustained solid returns over the last few months and may actually be approaching a breakup point.

B Communications and Cincinnati Bell Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.