Correlation Between Airgain and Aerkomm
Can any of the company-specific risk be diversified away by investing in both Airgain and Aerkomm 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 Airgain and Aerkomm into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Airgain and Aerkomm, you can compare the effects of market volatilities on Airgain and Aerkomm 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 Airgain with a short position of Aerkomm. Check out your portfolio center. Please also check ongoing floating volatility patterns of Airgain and Aerkomm.
Diversification Opportunities for Airgain and Aerkomm
Pay attention - limited upside
The 3 months correlation between Airgain and Aerkomm is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Airgain and Aerkomm in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aerkomm and Airgain 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 Airgain are associated (or correlated) with Aerkomm. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aerkomm has no effect on the direction of Airgain i.e., Airgain and Aerkomm go up and down completely randomly.
Pair Corralation between Airgain and Aerkomm
If you would invest 713.00 in Airgain on October 23, 2024 and sell it today you would earn a total of 37.00 from holding Airgain or generate 5.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 90.0% |
| Values | Daily Returns |
Airgain vs. Aerkomm
Performance |
| Timeline |
| Airgain |
| Aerkomm |
Airgain and Aerkomm Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Airgain and Aerkomm
The main advantage of trading using opposite Airgain and Aerkomm positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Airgain position performs unexpectedly, Aerkomm 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 Aerkomm will offset losses from the drop in Aerkomm's long position.The idea behind Airgain and Aerkomm 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.| Aerkomm vs. AmpliTech Group | Aerkomm vs. AAP Inc | Aerkomm vs. Airgain | Aerkomm vs. AAC Technologies 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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