Correlation Between Franklin Wireless and SIEGR
Specify exactly 2 symbols:
By analyzing existing cross correlation between Franklin Wireless Corp and SIEGR 6125 17 AUG 26, you can compare the effects of market volatilities on Franklin Wireless and SIEGR 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 Franklin Wireless with a short position of SIEGR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Wireless and SIEGR.
Diversification Opportunities for Franklin Wireless and SIEGR
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Franklin and SIEGR is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Wireless Corp and SIEGR 6125 17 AUG 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SIEGR 6125 17 and Franklin Wireless 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 Franklin Wireless Corp are associated (or correlated) with SIEGR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SIEGR 6125 17 has no effect on the direction of Franklin Wireless i.e., Franklin Wireless and SIEGR go up and down completely randomly.
Pair Corralation between Franklin Wireless and SIEGR
Given the investment horizon of 90 days Franklin Wireless Corp is expected to generate 4.86 times more return on investment than SIEGR. However, Franklin Wireless is 4.86 times more volatile than SIEGR 6125 17 AUG 26. It trades about 0.01 of its potential returns per unit of risk. SIEGR 6125 17 AUG 26 is currently generating about -0.01 per unit of risk. If you would invest 430.00 in Franklin Wireless Corp on September 12, 2024 and sell it today you would earn a total of 8.00 from holding Franklin Wireless Corp or generate 1.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 52.93% |
| Values | Daily Returns |
Franklin Wireless Corp vs. SIEGR 6125 17 AUG 26
Performance |
| Timeline |
| Franklin Wireless Corp |
| SIEGR 6125 17 |
Franklin Wireless and SIEGR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Wireless and SIEGR
The main advantage of trading using opposite Franklin Wireless and SIEGR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Wireless position performs unexpectedly, SIEGR 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 SIEGR will offset losses from the drop in SIEGR's long position.| Franklin Wireless vs. Wialan Technologies | Franklin Wireless vs. TPT Global Tech | Franklin Wireless vs. Moving iMage Technologies | Franklin Wireless vs. Comtech Telecommunications Corp |
| SIEGR vs. Mativ Holdings | SIEGR vs. Hudson Pacific Properties | SIEGR vs. Franklin Wireless Corp | SIEGR vs. HNI Corp |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets |