Correlation Between Cuentas and KwikClick
Can any of the company-specific risk be diversified away by investing in both Cuentas and KwikClick 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 Cuentas and KwikClick into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cuentas and KwikClick, you can compare the effects of market volatilities on Cuentas and KwikClick 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 Cuentas with a short position of KwikClick. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cuentas and KwikClick.
Diversification Opportunities for Cuentas and KwikClick
Average diversification
The 3 months correlation between Cuentas and KwikClick is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Cuentas and KwikClick in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KwikClick and Cuentas 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 Cuentas are associated (or correlated) with KwikClick. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KwikClick has no effect on the direction of Cuentas i.e., Cuentas and KwikClick go up and down completely randomly.
Pair Corralation between Cuentas and KwikClick
If you would invest 30.00 in KwikClick on September 1, 2024 and sell it today you would lose (20.00) from holding KwikClick or give up 66.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 0.37% |
| Values | Daily Returns |
Cuentas vs. KwikClick
Performance |
| Timeline |
| Cuentas |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| KwikClick |
Cuentas and KwikClick Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cuentas and KwikClick
The main advantage of trading using opposite Cuentas and KwikClick positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cuentas position performs unexpectedly, KwikClick 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 KwikClick will offset losses from the drop in KwikClick's long position.| Cuentas vs. Auddia Inc | Cuentas vs. Bridgeline Digital | Cuentas vs. Mediaco Holding | Cuentas vs. Digital Brands Group |
| KwikClick vs. 01 Communique Laboratory | KwikClick vs. LifeSpeak | KwikClick vs. RESAAS Services | KwikClick vs. RenoWorks Software |
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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