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Correlation Between Babcock Wilcox and Barnes

Analyzing existing cross correlation between Babcock Wilcox Enterprises I and Barnes Group. You can compare the effects of market volatilities on Babcock Wilcox and Barnes 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 Babcock Wilcox with a short position of Barnes. Check out your portfolio center. Please also check ongoing floating volatility patterns of Babcock Wilcox and Barnes.

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Diversification Opportunities for Babcock Wilcox and Barnes

Babcock Wilcox Enterprises I diversification synergy
0.0
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Pay attention - limited upside

The 3 months correlation between Babcock and Barnes is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Babcock Wilcox Enterprises I and Barnes Group Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Barnes Group and Babcock Wilcox 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 Babcock Wilcox Enterprises I are associated (or correlated) with Barnes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Barnes Group has no effect on the direction of Babcock Wilcox i.e. Babcock Wilcox and Barnes go up and down completely randomly.

Pair Corralation between Babcock Wilcox and Barnes

If you would invest  337.00  in Babcock Wilcox Enterprises I on January 25, 2020 and sell it today you would earn a total of  128.00  from holding Babcock Wilcox Enterprises I or generate 37.98% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy1.61%
ValuesDaily Returns

Babcock Wilcox Enterprises I  vs.  Barnes Group Inc

 Performance (%) 
    
  Timeline 
Babcock Wilcox Enter 
1111

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Babcock Wilcox Enterprises I are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days. Inspite fairly weak primary indicators, Babcock Wilcox showed solid returns over the last few months and may actually be approaching a breakup point.
Barnes Group 
00

Risk-Adjusted Performance

Over the last 30 days Barnes Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Barnes is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Babcock Wilcox and Barnes Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.