Correlation Between Infinite Group, and Appen
Can any of the company-specific risk be diversified away by investing in both Infinite Group, and Appen 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 Infinite Group, and Appen into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Infinite Group, Common and Appen Limited, you can compare the effects of market volatilities on Infinite Group, and Appen 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 Infinite Group, with a short position of Appen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Infinite Group, and Appen.
Diversification Opportunities for Infinite Group, and Appen
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Infinite and Appen is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Infinite Group, Common and Appen Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Appen Limited and Infinite Group, 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 Infinite Group, Common are associated (or correlated) with Appen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Appen Limited has no effect on the direction of Infinite Group, i.e., Infinite Group, and Appen go up and down completely randomly.
Pair Corralation between Infinite Group, and Appen
If you would invest 21.00 in Appen Limited on September 2, 2024 and sell it today you would earn a total of 48.00 from holding Appen Limited or generate 228.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 0.4% |
| Values | Daily Returns |
Infinite Group, Common vs. Appen Limited
Performance |
| Timeline |
| Infinite Group, Common |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Appen Limited |
Infinite Group, and Appen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Infinite Group, and Appen
The main advantage of trading using opposite Infinite Group, and Appen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Infinite Group, position performs unexpectedly, Appen 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 Appen will offset losses from the drop in Appen's long position.| Infinite Group, vs. SEATech Ventures Corp | Infinite Group, vs. Kontrol Technologies Corp | Infinite Group, vs. Xalles Holdings | Infinite Group, vs. GBT Technologies |
| Appen vs. Atos Origin SA | Appen vs. Aurora Innovation | Appen vs. Appen Limited | Appen vs. Direct Communication Solutions |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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