Correlation Between GetSwift Technologies and Agent Information
Can any of the company-specific risk be diversified away by investing in both GetSwift Technologies and Agent Information 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 GetSwift Technologies and Agent Information into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GetSwift Technologies Limited and Agent Information Software, you can compare the effects of market volatilities on GetSwift Technologies and Agent Information 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 GetSwift Technologies with a short position of Agent Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of GetSwift Technologies and Agent Information.
Diversification Opportunities for GetSwift Technologies and Agent Information
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GetSwift and Agent is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GetSwift Technologies Limited and Agent Information Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agent Information and GetSwift 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 GetSwift Technologies Limited are associated (or correlated) with Agent Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agent Information has no effect on the direction of GetSwift Technologies i.e., GetSwift Technologies and Agent Information go up and down completely randomly.
Pair Corralation between GetSwift Technologies and Agent Information
If you would invest 110.00 in Agent Information Software on November 2, 2024 and sell it today you would earn a total of 10.00 from holding Agent Information Software or generate 9.09% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.93% |
| Values | Daily Returns |
GetSwift Technologies Limited vs. Agent Information Software
Performance |
| Timeline |
| GetSwift Technologies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Agent Information |
GetSwift Technologies and Agent Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GetSwift Technologies and Agent Information
The main advantage of trading using opposite GetSwift Technologies and Agent Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GetSwift Technologies position performs unexpectedly, Agent Information 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 Agent Information will offset losses from the drop in Agent Information's long position.| GetSwift Technologies vs. Gentex | GetSwift Technologies vs. Analog Devices | GetSwift Technologies vs. Schweiter Technologies AG | GetSwift Technologies vs. Radcom |
| Agent Information vs. CurrentC Power | Agent Information vs. Auddia Inc | Agent Information vs. BASE Inc | Agent Information vs. Maxwell Resource |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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