Correlation Between Fluent and Integral
Can any of the company-specific risk be diversified away by investing in both Fluent and Integral 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 Fluent and Integral into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fluent Inc and Integral Ad Science, you can compare the effects of market volatilities on Fluent and Integral 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 Fluent with a short position of Integral. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fluent and Integral.
Diversification Opportunities for Fluent and Integral
Very weak diversification
The 3 months correlation between Fluent and Integral is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Fluent Inc and Integral Ad Science in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Integral Ad Science and Fluent 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 Fluent Inc are associated (or correlated) with Integral. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Integral Ad Science has no effect on the direction of Fluent i.e., Fluent and Integral go up and down completely randomly.
Pair Corralation between Fluent and Integral
Given the investment horizon of 90 days Fluent Inc is expected to generate 1.09 times more return on investment than Integral. However, Fluent is 1.09 times more volatile than Integral Ad Science. It trades about 0.15 of its potential returns per unit of risk. Integral Ad Science is currently generating about 0.0 per unit of risk. If you would invest 263.00 in Fluent Inc on November 3, 2024 and sell it today you would earn a total of 20.00 from holding Fluent Inc or generate 7.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fluent Inc vs. Integral Ad Science
Performance |
| Timeline |
| Fluent Inc |
| Integral Ad Science |
Fluent and Integral Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fluent and Integral
The main advantage of trading using opposite Fluent and Integral positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fluent position performs unexpectedly, Integral 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 Integral will offset losses from the drop in Integral's long position.| Fluent vs. Marchex | Fluent vs. Dolphin Entertainment | Fluent vs. Beyond Commerce | Fluent vs. MGO Global Common |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios |