Correlation Between Alfi and Appgate
Can any of the company-specific risk be diversified away by investing in both Alfi and Appgate 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 Alfi and Appgate into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Alfi Inc and Appgate, you can compare the effects of market volatilities on Alfi and Appgate 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 Alfi with a short position of Appgate. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alfi and Appgate.
Diversification Opportunities for Alfi and Appgate
Pay attention - limited upside
The 3 months correlation between Alfi and Appgate is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Alfi Inc and Appgate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Appgate and Alfi 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 Alfi Inc are associated (or correlated) with Appgate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Appgate has no effect on the direction of Alfi i.e., Alfi and Appgate go up and down completely randomly.
Pair Corralation between Alfi and Appgate
If you would invest 13.00 in Appgate on November 3, 2024 and sell it today you would earn a total of 0.00 from holding Appgate or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Alfi Inc vs. Appgate
Performance |
| Timeline |
| Alfi Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Appgate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Alfi and Appgate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Alfi and Appgate
The main advantage of trading using opposite Alfi and Appgate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Alfi position performs unexpectedly, Appgate 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 Appgate will offset losses from the drop in Appgate's long position.| Alfi vs. Arax Holdings Corp | Alfi vs. AppTech Payments Corp | Alfi vs. Arbe Robotics Ltd | Alfi vs. Argentum 47 |
| Appgate vs. Tingo Inc | Appgate vs. Palo Alto Networks | Appgate vs. Palantir Technologies Class | Appgate vs. Arax Holdings Corp |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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