Correlation Analysis Between BG Staffing and Hirequest

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

BG Staffing  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in BG Staffing are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. In spite of rather weak fundamental drivers, BG Staffing may actually be approaching a critical reversion point that can send shares even higher in January 2020.
Hirequest  
11

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Hirequest are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days. Despite nearly stable fundamental indicators, Hirequest is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholder.

BG Staffing and Hirequest Volatility Contrast

 Predicted Return Density 
      Returns 

BG Staffing Inc  vs.  Hirequest

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, BG Staffing is expected to generate 0.49 times more return on investment than Hirequest. However, BG Staffing is 2.04 times less risky than Hirequest. It trades about 0.07 of its potential returns per unit of risk. Hirequest is currently generating about 0.02 per unit of risk. If you would invest  1,933  in BG Staffing on November 10, 2019 and sell it today you would earn a total of  162.00  from holding BG Staffing or generate 8.38% return on investment over 30 days.

Pair Corralation between BG Staffing and Hirequest

0.51
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy76.19%
ValuesDaily Returns

Diversification Opportunities for BG Staffing and Hirequest

BG Staffing Inc diversification synergy

Very weak diversification

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