Correlation Between AST SpaceMobile and Senior Connect
Can any of the company-specific risk be diversified away by investing in both AST SpaceMobile and Senior Connect 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 AST SpaceMobile and Senior Connect into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AST SpaceMobile and Senior Connect Acquisition, you can compare the effects of market volatilities on AST SpaceMobile and Senior Connect 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 AST SpaceMobile with a short position of Senior Connect. Check out your portfolio center. Please also check ongoing floating volatility patterns of AST SpaceMobile and Senior Connect.
Diversification Opportunities for AST SpaceMobile and Senior Connect
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AST and Senior is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding AST SpaceMobile and Senior Connect Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Senior Connect Acqui and AST SpaceMobile 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 AST SpaceMobile are associated (or correlated) with Senior Connect. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Senior Connect Acqui has no effect on the direction of AST SpaceMobile i.e., AST SpaceMobile and Senior Connect go up and down completely randomly.
Pair Corralation between AST SpaceMobile and Senior Connect
If you would invest 0.04 in Senior Connect Acquisition on August 29, 2024 and sell it today you would earn a total of 0.00 from holding Senior Connect Acquisition or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AST SpaceMobile vs. Senior Connect Acquisition
Performance |
| Timeline |
| AST SpaceMobile |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Senior Connect Acqui |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
AST SpaceMobile and Senior Connect Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AST SpaceMobile and Senior Connect
The main advantage of trading using opposite AST SpaceMobile and Senior Connect positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AST SpaceMobile position performs unexpectedly, Senior Connect 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 Senior Connect will offset losses from the drop in Senior Connect's long position.| AST SpaceMobile vs. Origin Materials Warrant | AST SpaceMobile vs. Ast Spacemobile | AST SpaceMobile vs. Paysafe Ltd Wt | AST SpaceMobile vs. EVgo Equity Warrants |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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