Correlation Between AgileThought and Kontrol Technologies
Can any of the company-specific risk be diversified away by investing in both AgileThought and Kontrol Technologies 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 Kontrol Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AgileThought and Kontrol Technologies Corp, you can compare the effects of market volatilities on AgileThought and Kontrol Technologies 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 Kontrol Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of AgileThought and Kontrol Technologies.
Diversification Opportunities for AgileThought and Kontrol Technologies
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between AgileThought and Kontrol is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding AgileThought and Kontrol Technologies Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kontrol Technologies Corp 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 Kontrol Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kontrol Technologies Corp has no effect on the direction of AgileThought i.e., AgileThought and Kontrol Technologies go up and down completely randomly.
Pair Corralation between AgileThought and Kontrol Technologies
If you would invest 7.00 in AgileThought on September 27, 2024 and sell it today you would earn a total of 0.00 from holding AgileThought or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
AgileThought vs. Kontrol Technologies Corp
Performance |
| Timeline |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Kontrol Technologies Corp |
AgileThought and Kontrol Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AgileThought and Kontrol Technologies
The main advantage of trading using opposite AgileThought and Kontrol Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AgileThought position performs unexpectedly, Kontrol Technologies 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 Kontrol Technologies will offset losses from the drop in Kontrol Technologies' long position.| AgileThought vs. Katapult Holdings Equity | AgileThought vs. Arqit Quantum Warrants | AgileThought vs. AvePoint |
| Kontrol Technologies vs. Appen Limited | Kontrol Technologies vs. Appen Limited | Kontrol Technologies vs. Direct Communication Solutions | Kontrol Technologies vs. Capgemini SE ADR |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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