Correlation Between Marblegate Acquisition and IX Acquisition
Can any of the company-specific risk be diversified away by investing in both Marblegate Acquisition and IX Acquisition 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 Marblegate Acquisition and IX Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marblegate Acquisition Corp and IX Acquisition Corp, you can compare the effects of market volatilities on Marblegate Acquisition and IX Acquisition 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 Marblegate Acquisition with a short position of IX Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marblegate Acquisition and IX Acquisition.
Diversification Opportunities for Marblegate Acquisition and IX Acquisition
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Marblegate and IXAQU is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Marblegate Acquisition Corp and IX Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IX Acquisition Corp and Marblegate Acquisition 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 Marblegate Acquisition Corp are associated (or correlated) with IX Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IX Acquisition Corp has no effect on the direction of Marblegate Acquisition i.e., Marblegate Acquisition and IX Acquisition go up and down completely randomly.
Pair Corralation between Marblegate Acquisition and IX Acquisition
If you would invest 1,114 in Marblegate Acquisition Corp on August 30, 2024 and sell it today you would earn a total of 11.00 from holding Marblegate Acquisition Corp or generate 0.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Marblegate Acquisition Corp vs. IX Acquisition Corp
Performance |
| Timeline |
| Marblegate Acquisition |
| IX Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Marblegate Acquisition and IX Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marblegate Acquisition and IX Acquisition
The main advantage of trading using opposite Marblegate Acquisition and IX Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marblegate Acquisition position performs unexpectedly, IX Acquisition 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 IX Acquisition will offset losses from the drop in IX Acquisition's long position.| Marblegate Acquisition vs. Microchip Technology | Marblegate Acquisition vs. Taiwan Semiconductor Manufacturing | Marblegate Acquisition vs. KLA Tencor | Marblegate Acquisition vs. Waste Management |
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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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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