Correlation Between Agent Information and Kaspien Holdings
Can any of the company-specific risk be diversified away by investing in both Agent Information and Kaspien 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 Agent Information and Kaspien Holdings 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 Kaspien Holdings, you can compare the effects of market volatilities on Agent Information and Kaspien 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 Agent Information with a short position of Kaspien Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agent Information and Kaspien Holdings.
Diversification Opportunities for Agent Information and Kaspien Holdings
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Agent and Kaspien is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Agent Information Software and Kaspien Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kaspien Holdings 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 Kaspien Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kaspien Holdings has no effect on the direction of Agent Information i.e., Agent Information and Kaspien Holdings go up and down completely randomly.
Pair Corralation between Agent Information and Kaspien Holdings
If you would invest 190.00 in Agent Information Software on September 2, 2024 and sell it today you would lose (55.00) from holding Agent Information Software or give up 28.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.4% |
| Values | Daily Returns |
Agent Information Software vs. Kaspien Holdings
Performance |
| Timeline |
| Agent Information |
| Kaspien Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Agent Information and Kaspien Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agent Information and Kaspien Holdings
The main advantage of trading using opposite Agent Information and Kaspien Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agent Information position performs unexpectedly, Kaspien 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 Kaspien Holdings will offset losses from the drop in Kaspien Holdings' long position.| Agent Information vs. Waldencast Acquisition Corp | Agent Information vs. Alkami Technology | Agent Information vs. ADEIA P | Agent Information vs. Paycor HCM |
| Kaspien Holdings vs. Quoin Pharmaceuticals Ltd | Kaspien Holdings vs. Intelligent Living Application | Kaspien Holdings vs. Revelation Biosciences | Kaspien Holdings vs. Virax Biolabs 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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