Correlation Between American Picture and Genius Brands

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Can any of the company-specific risk be diversified away by investing in both American Picture and Genius Brands 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 American Picture and Genius Brands into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between American Picture House and Genius Brands International, you can compare the effects of market volatilities on American Picture and Genius Brands 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 American Picture with a short position of Genius Brands. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Picture and Genius Brands.

Diversification Opportunities for American Picture and Genius Brands

AmericanGeniusDiversified AwayAmericanGeniusDiversified Away100%
0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between American and Genius is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding American Picture House and Genius Brands International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genius Brands Intern and American Picture 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 American Picture House are associated (or correlated) with Genius Brands. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genius Brands Intern has no effect on the direction of American Picture i.e., American Picture and Genius Brands go up and down completely randomly.

Pair Corralation between American Picture and Genius Brands

If you would invest  27.00  in American Picture House on November 26, 2024 and sell it today you would earn a total of  1.00  from holding American Picture House or generate 3.7% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

American Picture House  vs.  Genius Brands International

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb -20-10010
JavaScript chart by amCharts 3.21.15APHP GNUS
       Timeline  
American Picture House 

Risk-Adjusted Performance

Weak

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in American Picture House are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Even with relatively uncertain technical indicators, American Picture may actually be approaching a critical reversion point that can send shares even higher in March 2025.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb0.20.220.240.260.280.30.320.34
Genius Brands Intern 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Genius Brands International has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Genius Brands is not utilizing all of its potentials. The newest stock price uproar, may contribute to short-horizon losses for the private investors.

American Picture and Genius Brands Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-20.3-15.2-10.11-5.010.08495.0710.2215.3720.52 0.0020.0040.0060.008
JavaScript chart by amCharts 3.21.15APHP GNUS
       Returns  

Pair Trading with American Picture and Genius Brands

The main advantage of trading using opposite American Picture and Genius Brands positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Picture position performs unexpectedly, Genius Brands 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 Genius Brands will offset losses from the drop in Genius Brands' long position.
The idea behind American Picture House and Genius Brands International 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.
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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.

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