Correlation Between Flexion Mobile and IZafe Group
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By analyzing existing cross correlation between Flexion Mobile PLC and iZafe Group AB, you can compare the effects of market volatilities on Flexion Mobile and IZafe Group 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 Flexion Mobile with a short position of IZafe Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Flexion Mobile and IZafe Group.
Diversification Opportunities for Flexion Mobile and IZafe Group
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Flexion and IZafe is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Flexion Mobile PLC and iZafe Group AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iZafe Group AB and Flexion Mobile 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 Flexion Mobile PLC are associated (or correlated) with IZafe Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iZafe Group AB has no effect on the direction of Flexion Mobile i.e., Flexion Mobile and IZafe Group go up and down completely randomly.
Pair Corralation between Flexion Mobile and IZafe Group
Assuming the 90 days trading horizon Flexion Mobile is expected to generate 3.52 times less return on investment than IZafe Group. But when comparing it to its historical volatility, Flexion Mobile PLC is 3.72 times less risky than IZafe Group. It trades about 0.11 of its potential returns per unit of risk. iZafe Group AB is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 22.00 in iZafe Group AB on November 3, 2024 and sell it today you would earn a total of 2.00 from holding iZafe Group AB or generate 9.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Flexion Mobile PLC vs. iZafe Group AB
Performance |
| Timeline |
| Flexion Mobile PLC |
| iZafe Group AB |
Flexion Mobile and IZafe Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Flexion Mobile and IZafe Group
The main advantage of trading using opposite Flexion Mobile and IZafe Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Flexion Mobile position performs unexpectedly, IZafe Group 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 IZafe Group will offset losses from the drop in IZafe Group's long position.| Flexion Mobile vs. SaveLend Group AB | Flexion Mobile vs. Zenicor Medical Systems | Flexion Mobile vs. New Nordic Healthbrands | Flexion Mobile vs. Spago Nanomedical AB |
| IZafe Group vs. Sprint Bioscience AB | IZafe Group vs. Acarix AS | IZafe Group vs. Annexin Pharmaceuticals AB |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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