Correlation has a time interval attached to it. Just like stock price, its coefficient may change everyday based on time interval. As of June last year, the divergence began. A2M and BAL price movements were not going to be friends from there onwards. I wound't call 77% a super strong correlation either.
If I was a fund manager, and my quant came upto me saying short A2M cause BAL report was unattractive, I'd politely send him/her on an unpaid leave.
bal earnings report, page-41
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Last
$5.53 |
Change
0.020(0.36%) |
Mkt cap ! $3.808B | |||
| Open | High | Low | Value | Volume |
| $5.65 | $5.67 | $5.53 | $3.661M | 655.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 10590 | $5.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.53 | 2253 | 5 |
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| Last trade - 12.59pm 26/11/2024 (20 minute delay) ? |
| A2M (ASX) Chart |
