Correlation Between AgileThought and SB Technology
Can any of the company-specific risk be diversified away by investing in both AgileThought and SB Technology 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 SB Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AgileThought and SB Technology Corp, you can compare the effects of market volatilities on AgileThought and SB Technology 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 SB Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of AgileThought and SB Technology.
Diversification Opportunities for AgileThought and SB Technology
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between AgileThought and SFBTF is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding AgileThought and SB Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SB Technology 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 SB Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SB Technology Corp has no effect on the direction of AgileThought i.e., AgileThought and SB Technology go up and down completely randomly.
Pair Corralation between AgileThought and SB Technology
If you would invest 1,845 in SB Technology Corp on August 27, 2024 and sell it today you would earn a total of 0.00 from holding SB Technology Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AgileThought vs. SB Technology Corp
Performance |
| Timeline |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| SB Technology Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
AgileThought and SB Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AgileThought and SB Technology
The main advantage of trading using opposite AgileThought and SB Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AgileThought position performs unexpectedly, SB Technology 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 SB Technology will offset losses from the drop in SB Technology's long position.| AgileThought vs. Katapult Holdings Equity | AgileThought vs. Arqit Quantum Warrants | AgileThought vs. AvePoint |
| SB Technology vs. CLPS Inc | SB Technology vs. Xalles Holdings | SB Technology vs. SEATech Ventures Corp | SB Technology vs. Soluna Holdings |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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