Correlation Between Bee Vectoring and Tecnoglass

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

By analyzing existing cross correlation between Bee Vectoring Technologies and Tecnoglass, you can compare the effects of market volatilities on Bee Vectoring and Tecnoglass 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 Bee Vectoring with a short position of Tecnoglass. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bee Vectoring and Tecnoglass.

Diversification Opportunities for Bee Vectoring and Tecnoglass

-0.19

Correlation Coefficient

Bee Vectoring  Tecnoglass

Good diversification

The 3 months correlation between Bee and Tecnoglass is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Bee Vectoring Technologies and Tecnoglass in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tecnoglass and Bee Vectoring 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 Bee Vectoring Technologies are associated (or correlated) with Tecnoglass. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tecnoglass has no effect on the direction of Bee Vectoring i.e., Bee Vectoring and Tecnoglass go up and down completely randomly.

Pair Corralation between Bee Vectoring and Tecnoglass

Assuming the 90 days horizon Bee Vectoring Technologies is expected to generate 6.13 times more return on investment than Tecnoglass. However, Bee Vectoring is 6.13 times more volatile than Tecnoglass. It trades about 0.08 of its potential returns per unit of risk. Tecnoglass is currently generating about 0.02 per unit of risk. If you would invest  0.80  in Bee Vectoring Technologies on May 5, 2025 and sell it today you would earn a total of  0.10  from holding Bee Vectoring Technologies or generate 12.5% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Bee Vectoring Technologies  vs.  Tecnoglass

Bee Vectoring Techno

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Bee Vectoring Technologies are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Bee Vectoring reported solid returns over the last few months and may actually be approaching a breakup point.

Tecnoglass

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Tecnoglass are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable essential indicators, Tecnoglass is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Bee Vectoring and Tecnoglass

The main advantage of trading using opposite Bee Vectoring and Tecnoglass positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bee Vectoring position performs unexpectedly, Tecnoglass 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 Tecnoglass will offset losses from the drop in Tecnoglass' long position.

The idea behind Bee Vectoring Technologies and Tecnoglass 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.