Correlation Between Agent Information and IGEN Networks
Can any of the company-specific risk be diversified away by investing in both Agent Information and IGEN Networks 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 Agent Information and IGEN Networks into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Agent Information Software and IGEN Networks Corp, you can compare the effects of market volatilities on Agent Information and IGEN Networks 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 Agent Information with a short position of IGEN Networks. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agent Information and IGEN Networks.
Diversification Opportunities for Agent Information and IGEN Networks
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Agent and IGEN is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Agent Information Software and IGEN Networks Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IGEN Networks Corp and Agent Information 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 Agent Information Software are associated (or correlated) with IGEN Networks. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IGEN Networks Corp has no effect on the direction of Agent Information i.e., Agent Information and IGEN Networks go up and down completely randomly.
Pair Corralation between Agent Information and IGEN Networks
If you would invest 148.00 in Agent Information Software on September 4, 2024 and sell it today you would lose (13.00) from holding Agent Information Software or give up 8.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Agent Information Software vs. IGEN Networks Corp
Performance |
| Timeline |
| Agent Information |
| IGEN Networks Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Agent Information and IGEN Networks Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agent Information and IGEN Networks
The main advantage of trading using opposite Agent Information and IGEN Networks positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agent Information position performs unexpectedly, IGEN Networks 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 IGEN Networks will offset losses from the drop in IGEN Networks' long position.| Agent Information vs. CurrentC Power | Agent Information vs. BASE Inc | Agent Information vs. Maxwell Resource | Agent Information vs. Ackroo Inc |
| IGEN Networks vs. Astra Veda | IGEN Networks vs. On4 Communications | IGEN Networks vs. AB International Group | IGEN Networks vs. Peer To Peer |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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