Correlation Between InMode and 19123MAF0
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By analyzing existing cross correlation between InMode and CCEP 15 15 JAN 27, you can compare the effects of market volatilities on InMode and 19123MAF0 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 InMode with a short position of 19123MAF0. Check out your portfolio center. Please also check ongoing floating volatility patterns of InMode and 19123MAF0.
Diversification Opportunities for InMode and 19123MAF0
Average diversification
The 3 months correlation between InMode and 19123MAF0 is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding InMode and CCEP 15 15 JAN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CCEP 15 15 and InMode 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 InMode are associated (or correlated) with 19123MAF0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCEP 15 15 has no effect on the direction of InMode i.e., InMode and 19123MAF0 go up and down completely randomly.
Pair Corralation between InMode and 19123MAF0
Given the investment horizon of 90 days InMode is expected to generate 7.96 times more return on investment than 19123MAF0. However, InMode is 7.96 times more volatile than CCEP 15 15 JAN 27. It trades about 0.31 of its potential returns per unit of risk. CCEP 15 15 JAN 27 is currently generating about -0.06 per unit of risk. If you would invest 1,667 in InMode on December 4, 2024 and sell it today you would earn a total of 215.00 from holding InMode or generate 12.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 57.14% |
| Values | Daily Returns |
InMode vs. CCEP 15 15 JAN 27
Performance |
| Timeline |
| InMode |
| CCEP 15 15 |
InMode and 19123MAF0 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with InMode and 19123MAF0
The main advantage of trading using opposite InMode and 19123MAF0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if InMode position performs unexpectedly, 19123MAF0 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 19123MAF0 will offset losses from the drop in 19123MAF0's long position.| InMode vs. TransMedics Group | InMode vs. Inspire Medical Systems | InMode vs. Insulet | InMode vs. DexCom 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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