Correlation Between Fluent and 594918BC7
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By analyzing existing cross correlation between Fluent Inc and MICROSOFT P 35, you can compare the effects of market volatilities on Fluent and 594918BC7 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 594918BC7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fluent and 594918BC7.
Diversification Opportunities for Fluent and 594918BC7
Weak diversification
The 3 months correlation between Fluent and 594918BC7 is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Fluent Inc and MICROSOFT P 35 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MICROSOFT P 35 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 594918BC7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MICROSOFT P 35 has no effect on the direction of Fluent i.e., Fluent and 594918BC7 go up and down completely randomly.
Pair Corralation between Fluent and 594918BC7
Given the investment horizon of 90 days Fluent Inc is expected to generate 2.75 times more return on investment than 594918BC7. However, Fluent is 2.75 times more volatile than MICROSOFT P 35. It trades about 0.15 of its potential returns per unit of risk. MICROSOFT P 35 is currently generating about 0.01 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 | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Fluent Inc vs. MICROSOFT P 35
Performance |
| Timeline |
| Fluent Inc |
| MICROSOFT P 35 |
Fluent and 594918BC7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fluent and 594918BC7
The main advantage of trading using opposite Fluent and 594918BC7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fluent position performs unexpectedly, 594918BC7 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 594918BC7 will offset losses from the drop in 594918BC7's long position.| Fluent vs. Marchex | Fluent vs. Dolphin Entertainment | Fluent vs. Beyond Commerce | Fluent vs. MGO Global Common |
| 594918BC7 vs. The Coca Cola | 594918BC7 vs. Sensient Technologies | 594918BC7 vs. Ecolab Inc | 594918BC7 vs. Westrock Coffee |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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