Correlation Between Infobird and Marin Software
Can any of the company-specific risk be diversified away by investing in both Infobird and Marin Software 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 Infobird and Marin Software into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Infobird Co and Marin Software, you can compare the effects of market volatilities on Infobird and Marin Software 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 Infobird with a short position of Marin Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Infobird and Marin Software.
Diversification Opportunities for Infobird and Marin Software
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Infobird and Marin is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Infobird Co and Marin Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marin Software and Infobird 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 Infobird Co are associated (or correlated) with Marin Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marin Software has no effect on the direction of Infobird i.e., Infobird and Marin Software go up and down completely randomly.
Pair Corralation between Infobird and Marin Software
Given the investment horizon of 90 days Infobird Co is expected to under-perform the Marin Software. In addition to that, Infobird is 1.42 times more volatile than Marin Software. It trades about -0.04 of its total potential returns per unit of risk. Marin Software is currently generating about 0.01 per unit of volatility. If you would invest 438.00 in Marin Software on August 31, 2024 and sell it today you would lose (214.00) from holding Marin Software or give up 48.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Infobird Co vs. Marin Software
Performance |
| Timeline |
| Infobird |
| Marin Software |
Infobird and Marin Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Infobird and Marin Software
The main advantage of trading using opposite Infobird and Marin Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Infobird position performs unexpectedly, Marin Software 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 Marin Software will offset losses from the drop in Marin Software's long position.| Infobird vs. HeartCore Enterprises | Infobird vs. Beamr Imaging Ltd | Infobird vs. Trust Stamp | Infobird vs. CXApp Inc |
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 CEOs Directory module to screen CEOs from public companies around the world.
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