Correlation Between CXApp and Dubber
Can any of the company-specific risk be diversified away by investing in both CXApp and Dubber 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 CXApp and Dubber into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CXApp Inc and Dubber Limited, you can compare the effects of market volatilities on CXApp and Dubber 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 CXApp with a short position of Dubber. Check out your portfolio center. Please also check ongoing floating volatility patterns of CXApp and Dubber.
Diversification Opportunities for CXApp and Dubber
Good diversification
The 3 months correlation between CXApp and Dubber is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding CXApp Inc and Dubber Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dubber Limited and CXApp 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 CXApp Inc are associated (or correlated) with Dubber. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dubber Limited has no effect on the direction of CXApp i.e., CXApp and Dubber go up and down completely randomly.
Pair Corralation between CXApp and Dubber
Assuming the 90 days horizon CXApp Inc is expected to generate 0.59 times more return on investment than Dubber. However, CXApp Inc is 1.71 times less risky than Dubber. It trades about 0.04 of its potential returns per unit of risk. Dubber Limited is currently generating about -0.05 per unit of risk. If you would invest 21.00 in CXApp Inc on September 24, 2024 and sell it today you would earn a total of 0.34 from holding CXApp Inc or generate 1.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CXApp Inc vs. Dubber Limited
Performance |
| Timeline |
| CXApp Inc |
| Dubber Limited |
CXApp and Dubber Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CXApp and Dubber
The main advantage of trading using opposite CXApp and Dubber positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CXApp position performs unexpectedly, Dubber 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 Dubber will offset losses from the drop in Dubber's long position.| CXApp vs. Dave Warrants | CXApp vs. Aquagold International | CXApp vs. Morningstar Unconstrained Allocation | CXApp vs. Thrivent High Yield |
| Dubber vs. NextPlat Corp | Dubber vs. Liquid Avatar Technologies | Dubber vs. Waldencast Acquisition Corp | Dubber vs. CXApp Inc |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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