Correlation Between Freight Technologies and Kubient
Can any of the company-specific risk be diversified away by investing in both Freight Technologies and Kubient 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 Freight Technologies and Kubient into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Freight Technologies and Kubient, you can compare the effects of market volatilities on Freight Technologies and Kubient 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 Freight Technologies with a short position of Kubient. Check out your portfolio center. Please also check ongoing floating volatility patterns of Freight Technologies and Kubient.
Diversification Opportunities for Freight Technologies and Kubient
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Freight and Kubient is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Freight Technologies and Kubient in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kubient and Freight Technologies 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 Freight Technologies are associated (or correlated) with Kubient. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kubient has no effect on the direction of Freight Technologies i.e., Freight Technologies and Kubient go up and down completely randomly.
Pair Corralation between Freight Technologies and Kubient
If you would invest (100.00) in Kubient on December 2, 2024 and sell it today you would earn a total of 100.00 from holding Kubient or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Freight Technologies vs. Kubient
Performance |
| Timeline |
| Freight Technologies |
| Kubient |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Freight Technologies and Kubient Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Freight Technologies and Kubient
The main advantage of trading using opposite Freight Technologies and Kubient positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Freight Technologies position performs unexpectedly, Kubient 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 Kubient will offset losses from the drop in Kubient's long position.| Freight Technologies vs. Infobird Co | ||
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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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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