Correlation Between AMREP and ATIF Holdings
Can any of the company-specific risk be diversified away by investing in both AMREP and ATIF Holdings 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 AMREP and ATIF Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AMREP and ATIF Holdings, you can compare the effects of market volatilities on AMREP and ATIF Holdings 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 AMREP with a short position of ATIF Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of AMREP and ATIF Holdings.
Diversification Opportunities for AMREP and ATIF Holdings
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AMREP and ATIF is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding AMREP and ATIF Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATIF Holdings and AMREP 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 AMREP are associated (or correlated) with ATIF Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATIF Holdings has no effect on the direction of AMREP i.e., AMREP and ATIF Holdings go up and down completely randomly.
Pair Corralation between AMREP and ATIF Holdings
Considering the 90-day investment horizon AMREP is expected to generate 0.66 times more return on investment than ATIF Holdings. However, AMREP is 1.52 times less risky than ATIF Holdings. It trades about 0.19 of its potential returns per unit of risk. ATIF Holdings is currently generating about -0.17 per unit of risk. If you would invest 2,990 in AMREP on August 31, 2024 and sell it today you would earn a total of 550.00 from holding AMREP or generate 18.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
AMREP vs. ATIF Holdings
Performance |
| Timeline |
| AMREP |
| ATIF Holdings |
AMREP and ATIF Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AMREP and ATIF Holdings
The main advantage of trading using opposite AMREP and ATIF Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AMREP position performs unexpectedly, ATIF Holdings 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 ATIF Holdings will offset losses from the drop in ATIF Holdings' long position.| AMREP vs. Landsea Homes Corp | AMREP vs. Forestar Group | AMREP vs. Five Point Holdings | AMREP vs. American Realty Investors |
| ATIF Holdings vs. SPENN Technology AS | ATIF Holdings vs. Arcane Crypto AB | ATIF Holdings vs. OFX Group Ltd | ATIF Holdings vs. Blockmate Ventures |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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