Correlation Between AMC Entertainment and Cinedigm Corp
Can any of the company-specific risk be diversified away by investing in both AMC Entertainment and Cinedigm Corp 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 AMC Entertainment and Cinedigm Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AMC Entertainment Holdings and Cinedigm Corp, you can compare the effects of market volatilities on AMC Entertainment and Cinedigm Corp 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 AMC Entertainment with a short position of Cinedigm Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMC Entertainment and Cinedigm Corp.
Diversification Opportunities for AMC Entertainment and Cinedigm Corp
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AMC and Cinedigm is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AMC Entertainment Holdings and Cinedigm Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cinedigm Corp and AMC Entertainment 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 AMC Entertainment Holdings are associated (or correlated) with Cinedigm Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cinedigm Corp has no effect on the direction of AMC Entertainment i.e., AMC Entertainment and Cinedigm Corp go up and down completely randomly.
Pair Corralation between AMC Entertainment and Cinedigm Corp
If you would invest (100.00) in Cinedigm Corp on January 10, 2025 and sell it today you would earn a total of 100.00 from holding Cinedigm Corp or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
AMC Entertainment Holdings vs. Cinedigm Corp
Performance |
| Timeline |
| AMC Entertainment |
| Cinedigm Corp |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
AMC Entertainment and Cinedigm Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AMC Entertainment and Cinedigm Corp
The main advantage of trading using opposite AMC Entertainment and Cinedigm Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMC Entertainment position performs unexpectedly, Cinedigm Corp 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 Cinedigm Corp will offset losses from the drop in Cinedigm Corp's long position.| AMC Entertainment vs. Cinemark Holdings | AMC Entertainment vs. Roku Inc | AMC Entertainment vs. Netflix | AMC Entertainment vs. Paramount Global Class |
| Cinedigm Corp vs. Cineverse Corp | Cinedigm Corp vs. AMC Entertainment Holdings | Cinedigm Corp vs. Manchester United | Cinedigm Corp vs. iQIYI Inc |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |