Correlation Between BJs Wholesale and RAMINFO

By analyzing existing cross correlation between BJs Wholesale Club and RAMINFO LIMITED, you can compare the effects of market volatilities on BJs Wholesale and RAMINFO 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 BJs Wholesale with a short position of RAMINFO. Check out your portfolio center. Please also check ongoing floating volatility patterns of BJs Wholesale and RAMINFO.

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

Diversification Opportunities for BJs Wholesale and RAMINFO

  Correlation Coefficient
BJs Wholesale Club

Weak diversification

The 3 months correlation between BJs Wholesale and RAMINFO is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding BJs Wholesale Club Holdings I and RAMINFO LIMITED in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on RAMINFO LIMITED and BJs Wholesale 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 BJs Wholesale Club are associated (or correlated) with RAMINFO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RAMINFO LIMITED has no effect on the direction of BJs Wholesale i.e. BJs Wholesale and RAMINFO go up and down completely randomly.

Pair Corralation between BJs Wholesale and RAMINFO

Allowing for the 30-days total investment horizon, BJs Wholesale Club is expected to generate 0.89 times more return on investment than RAMINFO. However, BJs Wholesale Club is 1.12 times less risky than RAMINFO. It trades about 0.19 of its potential returns per unit of risk. RAMINFO LIMITED is currently generating about 0.14 per unit of risk. If you would invest  2,506  in BJs Wholesale Club on June 12, 2020 and sell it today you would earn a total of  1,372  from holding BJs Wholesale Club or generate 54.75% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
ValuesDaily Returns

BJs Wholesale Club Holdings I  vs.  RAMINFO LIMITED

 Performance (%) 
BJs Wholesale Club 

BJs Wholesale Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BJs Wholesale Club are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days. Regardless of fairly unsteady technical and fundamental indicators, BJs Wholesale demonstrated solid returns over the last few months and may actually be approaching a breakup point.

RAMINFO Risk-Adjusted Performance

Over the last 30 days RAMINFO LIMITED has generated negative risk-adjusted returns adding no value to investors with long positions. Although quite weak forward indicators, RAMINFO disclosed solid returns over the last few months and may actually be approaching a breakup point.

BJs Wholesale and RAMINFO Volatility Contrast

 Predicted Return Density 
Check out your portfolio center. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.

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