Correlation Between CSE Global and AgileThought
Can any of the company-specific risk be diversified away by investing in both CSE Global and AgileThought 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 CSE Global and AgileThought into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CSE Global Limited and AgileThought, you can compare the effects of market volatilities on CSE Global and AgileThought 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 CSE Global with a short position of AgileThought. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSE Global and AgileThought.
Diversification Opportunities for CSE Global and AgileThought
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CSE and AgileThought is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding CSE Global Limited and AgileThought in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AgileThought and CSE Global 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 CSE Global Limited are associated (or correlated) with AgileThought. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AgileThought has no effect on the direction of CSE Global i.e., CSE Global and AgileThought go up and down completely randomly.
Pair Corralation between CSE Global and AgileThought
If you would invest 30.00 in CSE Global Limited on August 31, 2024 and sell it today you would earn a total of 3.00 from holding CSE Global Limited or generate 10.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 4.55% |
| Values | Daily Returns |
CSE Global Limited vs. AgileThought
Performance |
| Timeline |
| CSE Global Limited |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
CSE Global and AgileThought Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSE Global and AgileThought
The main advantage of trading using opposite CSE Global and AgileThought positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSE Global position performs unexpectedly, AgileThought 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 AgileThought will offset losses from the drop in AgileThought's long position.| CSE Global vs. Appen Limited | CSE Global vs. Appen Limited | CSE Global vs. Deveron Corp | CSE Global vs. Capgemini SE ADR |
| AgileThought vs. Genpact Limited | AgileThought vs. ExlService Holdings | AgileThought vs. Science Applications International | AgileThought vs. CLARIVATE PLC |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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