Correlation Between Blue Sail and DocGo

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

By analyzing existing cross correlation between Blue Sail Medical and DocGo Inc, you can compare the effects of market volatilities on Blue Sail and DocGo 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 Blue Sail with a short position of DocGo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blue Sail and DocGo.

Diversification Opportunities for Blue Sail and DocGo

0.51

Correlation Coefficient

Blue Sail  DocGo

Very weak diversification

The 3 months correlation between Blue and DocGo is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Blue Sail Medical and DocGo Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DocGo Inc and Blue Sail 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 Blue Sail Medical are associated (or correlated) with DocGo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DocGo Inc has no effect on the direction of Blue Sail i.e., Blue Sail and DocGo go up and down completely randomly.

Pair Corralation between Blue Sail and DocGo

Assuming the 90 days trading horizon Blue Sail Medical is expected to generate 0.28 times more return on investment than DocGo. However, Blue Sail Medical is 3.58 times less risky than DocGo. It trades about -0.14 of its potential returns per unit of risk. DocGo Inc is currently generating about -0.14 per unit of risk. If you would invest  647.00  in Blue Sail Medical on August 26, 2025 and sell it today you would lose (78.00) from holding Blue Sail Medical or give up 12.06% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	92.19%
Values	Daily Returns

Blue Sail Medical  vs.  DocGo Inc

Blue Sail Medical

Risk-Adjusted Performance

Weakest

Over the last 90 days Blue Sail Medical has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

DocGo Inc

Risk-Adjusted Performance

Weakest

Over the last 90 days DocGo Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's technical and fundamental indicators remain very healthy which may send shares a bit higher in December 2025. The recent disarray may also be a sign of long period up-swing for the firm investors.

Pair Trading with Blue Sail and DocGo

The main advantage of trading using opposite Blue Sail and DocGo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blue Sail position performs unexpectedly, DocGo can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in DocGo will offset losses from the drop in DocGo's long position.

The idea behind Blue Sail Medical and DocGo Inc pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.