Correlation Between Cyxtera Technologies and 9F
Can any of the company-specific risk be diversified away by investing in both Cyxtera Technologies and 9F 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 Cyxtera Technologies and 9F into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cyxtera Technologies and 9F Inc, you can compare the effects of market volatilities on Cyxtera Technologies and 9F 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 Cyxtera Technologies with a short position of 9F. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cyxtera Technologies and 9F.
Diversification Opportunities for Cyxtera Technologies and 9F
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Cyxtera and 9F is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Cyxtera Technologies and 9F Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 9F Inc and Cyxtera Technologies 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 Cyxtera Technologies are associated (or correlated) with 9F. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 9F Inc has no effect on the direction of Cyxtera Technologies i.e., Cyxtera Technologies and 9F go up and down completely randomly.
Pair Corralation between Cyxtera Technologies and 9F
If you would invest 4.68 in Cyxtera Technologies on August 31, 2024 and sell it today you would earn a total of 0.00 from holding Cyxtera Technologies or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 2.27% |
| Values | Daily Returns |
Cyxtera Technologies vs. 9F Inc
Performance |
| Timeline |
| Cyxtera Technologies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| 9F Inc |
Cyxtera Technologies and 9F Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cyxtera Technologies and 9F
The main advantage of trading using opposite Cyxtera Technologies and 9F positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cyxtera Technologies position performs unexpectedly, 9F 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 9F will offset losses from the drop in 9F's long position.| Cyxtera Technologies vs. 9F Inc | Cyxtera Technologies vs. FiscalNote Holdings | Cyxtera Technologies vs. ARB IOT Group | Cyxtera Technologies vs. BigBearai 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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