Correlation Between AgileThought and WNS Holdings
Can any of the company-specific risk be diversified away by investing in both AgileThought and WNS Holdings 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 WNS Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AgileThought and WNS Holdings, you can compare the effects of market volatilities on AgileThought and WNS Holdings 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 WNS Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of AgileThought and WNS Holdings.
Diversification Opportunities for AgileThought and WNS Holdings
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between AgileThought and WNS is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding AgileThought and WNS Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WNS Holdings 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 WNS Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WNS Holdings has no effect on the direction of AgileThought i.e., AgileThought and WNS Holdings go up and down completely randomly.
Pair Corralation between AgileThought and WNS Holdings
If you would invest 4,745 in WNS Holdings on September 2, 2024 and sell it today you would earn a total of 678.00 from holding WNS Holdings or generate 14.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 4.76% |
| Values | Daily Returns |
AgileThought vs. WNS Holdings
Performance |
| Timeline |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| WNS Holdings |
AgileThought and WNS Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AgileThought and WNS Holdings
The main advantage of trading using opposite AgileThought and WNS Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AgileThought position performs unexpectedly, WNS Holdings 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 WNS Holdings will offset losses from the drop in WNS Holdings' long position.| AgileThought vs. Katapult Holdings Equity | AgileThought vs. Arqit Quantum Warrants | AgileThought vs. AvePoint |
| WNS Holdings vs. Genpact Limited | WNS Holdings vs. ASGN Inc | WNS Holdings vs. Gartner | WNS Holdings vs. The Hackett Group |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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