Correlation Between ExlService Holdings and AgileThought
Can any of the company-specific risk be diversified away by investing in both ExlService Holdings 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 ExlService Holdings and AgileThought into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ExlService Holdings and AgileThought, you can compare the effects of market volatilities on ExlService Holdings 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 ExlService Holdings with a short position of AgileThought. Check out your portfolio center. Please also check ongoing floating volatility patterns of ExlService Holdings and AgileThought.
Diversification Opportunities for ExlService Holdings and AgileThought
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ExlService and AgileThought is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding ExlService Holdings and AgileThought in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AgileThought and ExlService Holdings 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 ExlService Holdings 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 ExlService Holdings i.e., ExlService Holdings and AgileThought go up and down completely randomly.
Pair Corralation between ExlService Holdings and AgileThought
If you would invest 4,165 in ExlService Holdings on August 31, 2024 and sell it today you would earn a total of 494.00 from holding ExlService Holdings or generate 11.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 4.55% |
| Values | Daily Returns |
ExlService Holdings vs. AgileThought
Performance |
| Timeline |
| ExlService Holdings |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
ExlService Holdings and AgileThought Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ExlService Holdings and AgileThought
The main advantage of trading using opposite ExlService Holdings and AgileThought positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ExlService Holdings 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.| ExlService Holdings vs. Genpact Limited | ExlService Holdings vs. ASGN Inc | ExlService Holdings vs. TTEC Holdings | ExlService Holdings vs. WNS Holdings |
| AgileThought vs. Katapult Holdings Equity | AgileThought vs. Arqit Quantum Warrants | AgileThought vs. AvePoint |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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