Correlation Between Code Rebel and First America
Can any of the company-specific risk be diversified away by investing in both Code Rebel and First America 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 Code Rebel and First America into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Code Rebel Corp and First America Resources, you can compare the effects of market volatilities on Code Rebel and First America 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 Code Rebel with a short position of First America. Check out your portfolio center. Please also check ongoing floating volatility patterns of Code Rebel and First America.
Diversification Opportunities for Code Rebel and First America
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between Code and First is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding Code Rebel Corp and First America Resources in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First America Resources and Code Rebel 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 Code Rebel Corp are associated (or correlated) with First America. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First America Resources has no effect on the direction of Code Rebel i.e., Code Rebel and First America go up and down completely randomly.
Pair Corralation between Code Rebel and First America
If you would invest 51.00 in First America Resources on October 31, 2025 and sell it today you would earn a total of 0.00 from holding First America Resources or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 96.77% |
| Values | Daily Returns |
Code Rebel Corp vs. First America Resources
Performance |
| Timeline |
| Code Rebel Corp |
| First America Resources |
Code Rebel and First America Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Code Rebel and First America
The main advantage of trading using opposite Code Rebel and First America positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Code Rebel position performs unexpectedly, First America 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 First America will offset losses from the drop in First America's long position.| Code Rebel vs. Sonic Foundry | Code Rebel vs. Friendable | Code Rebel vs. Simtrol | Code Rebel vs. TeraForce Technology |
| First America vs. Sparx Holdings Group | First America vs. Wright Investors Service | First America vs. Quantum Int Corp | First America vs. HPIL Holding |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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