Correlation Between Citizens and Ainos
Can any of the company-specific risk be diversified away by investing in both Citizens and Ainos 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 Citizens and Ainos into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Citizens and Ainos Inc, you can compare the effects of market volatilities on Citizens and Ainos 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 Citizens with a short position of Ainos. Check out your portfolio center. Please also check ongoing floating volatility patterns of Citizens and Ainos.
Diversification Opportunities for Citizens and Ainos
Very good diversification
The 3 months correlation between Citizens and Ainos is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Citizens and Ainos Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ainos Inc and Citizens 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 Citizens are associated (or correlated) with Ainos. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ainos Inc has no effect on the direction of Citizens i.e., Citizens and Ainos go up and down completely randomly.
Pair Corralation between Citizens and Ainos
If you would invest 2.60 in Ainos Inc on September 2, 2024 and sell it today you would earn a total of 0.00 from holding Ainos Inc or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 9.52% |
| Values | Daily Returns |
Citizens vs. Ainos Inc
Performance |
| Timeline |
| Citizens |
| Ainos Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
Citizens and Ainos Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Citizens and Ainos
The main advantage of trading using opposite Citizens and Ainos positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Citizens position performs unexpectedly, Ainos 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 Ainos will offset losses from the drop in Ainos' long position.| Citizens vs. CNO Financial Group | Citizens vs. Brighthouse Financial | Citizens vs. FG Annuities Life | Citizens vs. Prudential Public Limited |
| Ainos vs. Avient Corp | Ainos vs. Sphere Entertainment Co | Ainos vs. Sealed Air | Ainos vs. CF Industries Holdings |
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 CEOs Directory module to screen CEOs from public companies around the world.
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