Correlation Between Fluent and Fidelity
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By analyzing existing cross correlation between Fluent Inc and Fidelity Guaranty Life, you can compare the effects of market volatilities on Fluent and Fidelity 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 Fidelity. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fluent and Fidelity.
Diversification Opportunities for Fluent and Fidelity
Good diversification
The 3 months correlation between Fluent and Fidelity is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Fluent Inc and Fidelity Guaranty Life in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fidelity Guaranty Life 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 Fidelity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity Guaranty Life has no effect on the direction of Fluent i.e., Fluent and Fidelity go up and down completely randomly.
Pair Corralation between Fluent and Fidelity
Given the investment horizon of 90 days Fluent Inc is expected to generate 3.36 times more return on investment than Fidelity. However, Fluent is 3.36 times more volatile than Fidelity Guaranty Life. It trades about -0.12 of its potential returns per unit of risk. Fidelity Guaranty Life is currently generating about -0.58 per unit of risk. If you would invest 305.00 in Fluent Inc on September 4, 2024 and sell it today you would lose (39.00) from holding Fluent Inc or give up 12.79% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 14.29% |
| Values | Daily Returns |
Fluent Inc vs. Fidelity Guaranty Life
Performance |
| Timeline |
| Fluent Inc |
| Fidelity Guaranty Life |
Fluent and Fidelity Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fluent and Fidelity
The main advantage of trading using opposite Fluent and Fidelity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fluent position performs unexpectedly, Fidelity 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 Fidelity will offset losses from the drop in Fidelity's long position.| Fluent vs. Marchex | Fluent vs. Dolphin Entertainment | Fluent vs. Beyond Commerce | Fluent vs. MGO Global Common |
| Fidelity vs. Playtech plc | Fidelity vs. Sphere Entertainment Co | Fidelity vs. BCE Inc | Fidelity vs. Fidus Investment 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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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