Correlation Between Epazz and CXApp

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both Epazz and CXApp 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 Epazz and CXApp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Epazz Inc and CXApp Inc, you can compare the effects of market volatilities on Epazz and CXApp 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 Epazz with a short position of CXApp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Epazz and CXApp.

Diversification Opportunities for Epazz and CXApp

0.23
  Correlation Coefficient

Modest diversification

The 3 months correlation between Epazz and CXApp is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Epazz Inc and CXApp Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CXApp Inc and Epazz 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 Epazz Inc are associated (or correlated) with CXApp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CXApp Inc has no effect on the direction of Epazz i.e., Epazz and CXApp go up and down completely randomly.

Pair Corralation between Epazz and CXApp

Given the investment horizon of 90 days Epazz Inc is expected to generate 0.89 times more return on investment than CXApp. However, Epazz Inc is 1.12 times less risky than CXApp. It trades about 0.03 of its potential returns per unit of risk. CXApp Inc is currently generating about 0.02 per unit of risk. If you would invest  0.10  in Epazz Inc on August 27, 2024 and sell it today you would lose (0.05) from holding Epazz Inc or give up 50.0% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Epazz Inc  vs.  CXApp Inc

 Performance 
       Timeline  
Epazz Inc 

Risk-Adjusted Performance

5 of 100

 
Weak
 
Strong
Modest
Compared to the overall equity markets, risk-adjusted returns on investments in Epazz Inc are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unfluctuating basic indicators, Epazz showed solid returns over the last few months and may actually be approaching a breakup point.
CXApp Inc 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days CXApp Inc has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unsteady performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in December 2024. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Epazz and CXApp Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Epazz and CXApp

The main advantage of trading using opposite Epazz and CXApp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Epazz position performs unexpectedly, CXApp 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 CXApp will offset losses from the drop in CXApp's long position.
The idea behind Epazz Inc and CXApp Inc pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.

Other Complementary Tools

Alpha Finder
Use alpha and beta coefficients to find investment opportunities after accounting for the risk
Funds Screener
Find actively-traded funds from around the world traded on over 30 global exchanges
Crypto Correlations
Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins
Correlation Analysis
Reduce portfolio risk simply by holding instruments which are not perfectly correlated
Pattern Recognition
Use different Pattern Recognition models to time the market across multiple global exchanges