Correlation Between Fluent and Global
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By analyzing existing cross correlation between Fluent Inc and Global Payments 415, you can compare the effects of market volatilities on Fluent and Global 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 Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fluent and Global.
Diversification Opportunities for Fluent and Global
Significant diversification
The 3 months correlation between Fluent and Global is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Fluent Inc and Global Payments 415 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Payments 415 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 Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Payments 415 has no effect on the direction of Fluent i.e., Fluent and Global go up and down completely randomly.
Pair Corralation between Fluent and Global
Given the investment horizon of 90 days Fluent Inc is expected to under-perform the Global. In addition to that, Fluent is 1.72 times more volatile than Global Payments 415. It trades about -0.13 of its total potential returns per unit of risk. Global Payments 415 is currently generating about -0.2 per unit of volatility. If you would invest 7,794 in Global Payments 415 on September 3, 2024 and sell it today you would lose (673.00) from holding Global Payments 415 or give up 8.63% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 80.0% |
| Values | Daily Returns |
Fluent Inc vs. Global Payments 415
Performance |
| Timeline |
| Fluent Inc |
| Global Payments 415 |
Fluent and Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fluent and Global
The main advantage of trading using opposite Fluent and Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fluent position performs unexpectedly, Global 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 Global will offset losses from the drop in Global'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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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