Correlation Between AppTech Payments and Appgate
Can any of the company-specific risk be diversified away by investing in both AppTech Payments 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 AppTech Payments and Appgate into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AppTech Payments Corp and Appgate, you can compare the effects of market volatilities on AppTech Payments 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 AppTech Payments with a short position of Appgate. Check out your portfolio center. Please also check ongoing floating volatility patterns of AppTech Payments and Appgate.
Diversification Opportunities for AppTech Payments and Appgate
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between AppTech and Appgate is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding AppTech Payments Corp and Appgate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Appgate and AppTech Payments 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 AppTech Payments Corp 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 AppTech Payments i.e., AppTech Payments and Appgate go up and down completely randomly.
Pair Corralation between AppTech Payments and Appgate
If you would invest 24.00 in AppTech Payments Corp on August 25, 2024 and sell it today you would lose (4.00) from holding AppTech Payments Corp or give up 16.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 5.88% |
| Values | Daily Returns |
AppTech Payments Corp vs. Appgate
Performance |
| Timeline |
| AppTech Payments Corp |
| Appgate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
AppTech Payments and Appgate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AppTech Payments and Appgate
The main advantage of trading using opposite AppTech Payments and Appgate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AppTech Payments 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.| AppTech Payments vs. American Rebel Holdings | AppTech Payments vs. bioAffinity Technologies Warrant | AppTech Payments vs. TC BioPharm plc | AppTech Payments vs. NextNav Warrant |
| Appgate vs. Tingo Inc | Appgate vs. Palo Alto Networks | Appgate vs. Palantir Technologies | 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Stocks Directory Find actively traded stocks across global markets | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios |