Correlation Between AgileThought and Crypto
Can any of the company-specific risk be diversified away by investing in both AgileThought and Crypto 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 AgileThought and Crypto into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AgileThought and Crypto Co, you can compare the effects of market volatilities on AgileThought and Crypto 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 AgileThought with a short position of Crypto. Check out your portfolio center. Please also check ongoing floating volatility patterns of AgileThought and Crypto.
Diversification Opportunities for AgileThought and Crypto
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between AgileThought and Crypto is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding AgileThought and Crypto Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Crypto and AgileThought 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 AgileThought are associated (or correlated) with Crypto. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Crypto has no effect on the direction of AgileThought i.e., AgileThought and Crypto go up and down completely randomly.
Pair Corralation between AgileThought and Crypto
If you would invest 0.10 in Crypto Co on October 25, 2024 and sell it today you would lose (0.03) from holding Crypto Co or give up 30.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 1.69% |
| Values | Daily Returns |
AgileThought vs. Crypto Co
Performance |
| Timeline |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Crypto |
AgileThought and Crypto Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AgileThought and Crypto
The main advantage of trading using opposite AgileThought and Crypto positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AgileThought position performs unexpectedly, Crypto 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 Crypto will offset losses from the drop in Crypto's long position.| AgileThought vs. Katapult Holdings Equity | AgileThought vs. Arqit Quantum Warrants | AgileThought vs. AvePoint |
| Crypto vs. Direct Communication Solutions | Crypto vs. Datametrex AI Limited | Crypto vs. CSE Global Limited | Crypto vs. Appen Limited |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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