Correlation Between IClick Interactive and Mobiquity Technologies
Can any of the company-specific risk be diversified away by investing in both IClick Interactive and Mobiquity Technologies 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 IClick Interactive and Mobiquity Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between iClick Interactive Asia and Mobiquity Technologies, you can compare the effects of market volatilities on IClick Interactive and Mobiquity Technologies 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 IClick Interactive with a short position of Mobiquity Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of IClick Interactive and Mobiquity Technologies.
Diversification Opportunities for IClick Interactive and Mobiquity Technologies
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IClick and Mobiquity is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding iClick Interactive Asia and Mobiquity Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mobiquity Technologies and IClick Interactive 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 iClick Interactive Asia are associated (or correlated) with Mobiquity Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mobiquity Technologies has no effect on the direction of IClick Interactive i.e., IClick Interactive and Mobiquity Technologies go up and down completely randomly.
Pair Corralation between IClick Interactive and Mobiquity Technologies
If you would invest 331.00 in iClick Interactive Asia on August 28, 2024 and sell it today you would earn a total of 228.00 from holding iClick Interactive Asia or generate 68.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
iClick Interactive Asia vs. Mobiquity Technologies
Performance |
| Timeline |
| iClick Interactive Asia |
| Mobiquity Technologies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
IClick Interactive and Mobiquity Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IClick Interactive and Mobiquity Technologies
The main advantage of trading using opposite IClick Interactive and Mobiquity Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IClick Interactive position performs unexpectedly, Mobiquity Technologies 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 Mobiquity Technologies will offset losses from the drop in Mobiquity Technologies' long position.| IClick Interactive vs. Mirriad Advertising plc | IClick Interactive vs. INEO Tech Corp | IClick Interactive vs. Kidoz Inc | IClick Interactive vs. Marchex |
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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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