Correlation Between AB International and Xcelmobility
Can any of the company-specific risk be diversified away by investing in both AB International and Xcelmobility 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 AB International and Xcelmobility into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AB International Group and Xcelmobility, you can compare the effects of market volatilities on AB International and Xcelmobility 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 AB International with a short position of Xcelmobility. Check out your portfolio center. Please also check ongoing floating volatility patterns of AB International and Xcelmobility.
Diversification Opportunities for AB International and Xcelmobility
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ABQQ and Xcelmobility is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AB International Group and Xcelmobility in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xcelmobility and AB International 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 AB International Group are associated (or correlated) with Xcelmobility. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xcelmobility has no effect on the direction of AB International i.e., AB International and Xcelmobility go up and down completely randomly.
Pair Corralation between AB International and Xcelmobility
If you would invest 0.07 in AB International Group on August 28, 2024 and sell it today you would earn a total of 0.00 from holding AB International Group or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AB International Group vs. Xcelmobility
Performance |
| Timeline |
| AB International |
| Xcelmobility |
AB International and Xcelmobility Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AB International and Xcelmobility
The main advantage of trading using opposite AB International and Xcelmobility positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AB International position performs unexpectedly, Xcelmobility 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 Xcelmobility will offset losses from the drop in Xcelmobility's long position.| AB International vs. Peer To Peer | AB International vs. AppYea Inc | AB International vs. Image Protect | AB International vs. Bowmo Inc |
| Xcelmobility vs. Pushfor Investments | Xcelmobility vs. AB International Group | Xcelmobility vs. On4 Communications | Xcelmobility vs. Tautachrome |
Check out your portfolio center.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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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