Correlation Between NetraMark Holdings and Agiliti

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both NetraMark Holdings and Agiliti 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 NetraMark Holdings and Agiliti into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between NetraMark Holdings and Agiliti, you can compare the effects of market volatilities on NetraMark Holdings and Agiliti 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 NetraMark Holdings with a short position of Agiliti. Check out your portfolio center. Please also check ongoing floating volatility patterns of NetraMark Holdings and Agiliti.

Diversification Opportunities for NetraMark Holdings and Agiliti

NetraMarkAgilitiDiversified AwayNetraMarkAgilitiDiversified Away100%
0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between NetraMark and Agiliti is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding NetraMark Holdings and Agiliti in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agiliti and NetraMark Holdings 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 NetraMark Holdings are associated (or correlated) with Agiliti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agiliti has no effect on the direction of NetraMark Holdings i.e., NetraMark Holdings and Agiliti go up and down completely randomly.

Pair Corralation between NetraMark Holdings and Agiliti

If you would invest  57.00  in NetraMark Holdings on November 30, 2024 and sell it today you would earn a total of  42.00  from holding NetraMark Holdings or generate 73.68% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

NetraMark Holdings  vs.  Agiliti

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb 20406080100120
JavaScript chart by amCharts 3.21.15AINMF AGTI
       Timeline  
NetraMark Holdings 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in NetraMark Holdings are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite nearly inconsistent primary indicators, NetraMark Holdings reported solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15JanFebFeb0.60.70.80.911.11.2
Agiliti 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Agiliti has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong basic indicators, Agiliti is not utilizing all of its potentials. The recent stock price confusion, may contribute to short-horizon losses for the traders.

NetraMark Holdings and Agiliti Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-26.79-20.06-13.34-6.610.07.2114.5421.8829.21 0.0010.0020.0030.0040.005
JavaScript chart by amCharts 3.21.15AINMF AGTI
       Returns  

Pair Trading with NetraMark Holdings and Agiliti

The main advantage of trading using opposite NetraMark Holdings and Agiliti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if NetraMark Holdings position performs unexpectedly, Agiliti 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 Agiliti will offset losses from the drop in Agiliti's long position.
The idea behind NetraMark Holdings and Agiliti pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.

Other Complementary Tools

CEOs Directory
Screen CEOs from public companies around the world
Equity Analysis
Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities
ETF Categories
List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments
Technical Analysis
Check basic technical indicators and analysis based on most latest market data
Sync Your Broker
Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.