Correlation Between Helix Applications and First BITCoin

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

By analyzing existing cross correlation between Helix Applications and First BITCoin Capital, you can compare the effects of market volatilities on Helix Applications and First BITCoin 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 Helix Applications with a short position of First BITCoin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Helix Applications and First BITCoin.

Diversification Opportunities for Helix Applications and First BITCoin

0.06

Correlation Coefficient

Helix Applications  First BITCoin

Significant diversification

The 3 months correlation between Helix and First is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Helix Applications and First BITCoin Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First BITCoin Capital and Helix Applications 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 Helix Applications are associated (or correlated) with First BITCoin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First BITCoin Capital has no effect on the direction of Helix Applications i.e., Helix Applications and First BITCoin go up and down completely randomly.

Pair Corralation between Helix Applications and First BITCoin

Assuming the 90 days horizon Helix Applications is expected to generate 0.13 times more return on investment than First BITCoin. However, Helix Applications is 7.99 times less risky than First BITCoin. It trades about 0.01 of its potential returns per unit of risk. First BITCoin Capital is currently generating about -0.13 per unit of risk. If you would invest  7.48  in Helix Applications on April 25, 2025 and sell it today you would earn a total of  0.00  from holding Helix Applications or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	98.41%
Values	Daily Returns

Helix Applications  vs.  First BITCoin Capital

Helix Applications

Risk-Adjusted Performance

Very Weak

Over the last 90 days Helix Applications has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Helix Applications is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

First BITCoin Capital

Risk-Adjusted Performance

Very Weak

Over the last 90 days First BITCoin Capital has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unfluctuating performance in the last few months, the Stock's fundamental indicators remain nearly stable which may send shares a bit higher in August 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with Helix Applications and First BITCoin

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

The idea behind Helix Applications and First BITCoin Capital 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 Anywhere module to track or share privately all of your investments from the convenience of any device.