Correlation Between Ault Alliance and Femasys
Can any of the company-specific risk be diversified away by investing in both Ault Alliance and Femasys 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 Ault Alliance and Femasys into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ault Alliance and Femasys, you can compare the effects of market volatilities on Ault Alliance and Femasys 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 Ault Alliance with a short position of Femasys. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ault Alliance and Femasys.
Diversification Opportunities for Ault Alliance and Femasys
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Ault and Femasys is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Ault Alliance and Femasys in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Femasys and Ault Alliance 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 Ault Alliance are associated (or correlated) with Femasys. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Femasys has no effect on the direction of Ault Alliance i.e., Ault Alliance and Femasys go up and down completely randomly.
Pair Corralation between Ault Alliance and Femasys
If you would invest 112.00 in Femasys on September 12, 2024 and sell it today you would earn a total of 12.00 from holding Femasys or generate 10.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 1.56% |
| Values | Daily Returns |
Ault Alliance vs. Femasys
Performance |
| Timeline |
| Ault Alliance |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Femasys |
Ault Alliance and Femasys Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ault Alliance and Femasys
The main advantage of trading using opposite Ault Alliance and Femasys positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ault Alliance position performs unexpectedly, Femasys 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 Femasys will offset losses from the drop in Femasys' long position.| Ault Alliance vs. Ihuman Inc | Ault Alliance vs. Coursera | Ault Alliance vs. Four Seasons Education | Ault Alliance vs. Acco Brands |
| Femasys vs. Precision Optics, | Femasys vs. Repro Med Systems | Femasys vs. InfuSystems Holdings | Femasys vs. Utah Medical Products |
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.
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