Correlation Between Fluent and UNITED
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By analyzing existing cross correlation between Fluent Inc and UNITED STS STL, you can compare the effects of market volatilities on Fluent and UNITED 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 UNITED. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fluent and UNITED.
Diversification Opportunities for Fluent and UNITED
Pay attention - limited upside
The 3 months correlation between Fluent and UNITED is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fluent Inc and UNITED STS STL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UNITED STS STL 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 UNITED. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UNITED STS STL has no effect on the direction of Fluent i.e., Fluent and UNITED go up and down completely randomly.
Pair Corralation between Fluent and UNITED
If you would invest 289.00 in Fluent Inc on October 20, 2024 and sell it today you would earn a total of 0.00 from holding Fluent Inc or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Fluent Inc vs. UNITED STS STL
Performance |
| Timeline |
| Fluent Inc |
| UNITED STS STL |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Fluent and UNITED Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fluent and UNITED
The main advantage of trading using opposite Fluent and UNITED positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fluent position performs unexpectedly, UNITED 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 UNITED will offset losses from the drop in UNITED's long position.| Fluent vs. Marchex | Fluent vs. Dolphin Entertainment | Fluent vs. Beyond Commerce | Fluent vs. MGO Global Common |
| UNITED vs. Artisan Partners Asset | UNITED vs. Freedom Holding Corp | UNITED vs. Black Spade Acquisition | UNITED vs. Futuretech II Acquisition |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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