Correlation Between American Express and Inpixon
Can any of the company-specific risk be diversified away by investing in both American Express and Inpixon 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 Express and Inpixon into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between American Express and Inpixon, you can compare the effects of market volatilities on American Express and Inpixon 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 Express with a short position of Inpixon. Check out your portfolio center. Please also check ongoing floating volatility patterns of American Express and Inpixon.
Diversification Opportunities for American Express and Inpixon
-0.79 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between American and Inpixon is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding American Express and Inpixon in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inpixon and American Express 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 Express are associated (or correlated) with Inpixon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inpixon has no effect on the direction of American Express i.e., American Express and Inpixon go up and down completely randomly.
Pair Corralation between American Express and Inpixon
If you would invest 27,408 in American Express on August 31, 2024 and sell it today you would earn a total of 3,017 from holding American Express or generate 11.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 4.55% |
| Values | Daily Returns |
American Express vs. Inpixon
Performance |
| Timeline |
| American Express |
| Inpixon |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
American Express and Inpixon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with American Express and Inpixon
The main advantage of trading using opposite American Express and Inpixon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if American Express position performs unexpectedly, Inpixon 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 Inpixon will offset losses from the drop in Inpixon's long position.| American Express vs. Visa Class A | American Express vs. RLJ Lodging Trust | American Express vs. Aquagold International | American Express vs. Stepstone Group |
| Inpixon vs. Trust Stamp | Inpixon vs. HeartCore Enterprises | Inpixon vs. SoundHound AI | Inpixon vs. Infobird Co |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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