Correlation Between Airgain and AmpliTech
Can any of the company-specific risk be diversified away by investing in both Airgain and AmpliTech 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 AmpliTech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Airgain and AmpliTech Group, you can compare the effects of market volatilities on Airgain and AmpliTech 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 AmpliTech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Airgain and AmpliTech.
Diversification Opportunities for Airgain and AmpliTech
Excellent diversification
The 3 months correlation between Airgain and AmpliTech is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Airgain and AmpliTech Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AmpliTech Group 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 AmpliTech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AmpliTech Group has no effect on the direction of Airgain i.e., Airgain and AmpliTech go up and down completely randomly.
Pair Corralation between Airgain and AmpliTech
Given the investment horizon of 90 days Airgain is expected to generate 1.71 times less return on investment than AmpliTech. But when comparing it to its historical volatility, Airgain is 6.68 times less risky than AmpliTech. It trades about 0.13 of its potential returns per unit of risk. AmpliTech Group is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 7.00 in AmpliTech Group on August 29, 2024 and sell it today you would lose (5.40) from holding AmpliTech Group or give up 77.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Airgain vs. AmpliTech Group
Performance |
| Timeline |
| Airgain |
| AmpliTech Group |
Airgain and AmpliTech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Airgain and AmpliTech
The main advantage of trading using opposite Airgain and AmpliTech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Airgain position performs unexpectedly, AmpliTech 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 AmpliTech will offset losses from the drop in AmpliTech's long position.| Airgain vs. Cps Technologies | Airgain vs. Akoustis Technologies | Airgain vs. Cambium Networks Corp | Airgain vs. Ceragon Networks |
| AmpliTech vs. Amplitech Group | AmpliTech vs. Advent Technologies Holdings | AmpliTech vs. Cyclo Therapeutics |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas |