Correlation Between Inpixon and Pubmatic
Can any of the company-specific risk be diversified away by investing in both Inpixon and Pubmatic 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 Inpixon and Pubmatic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Inpixon and Pubmatic, you can compare the effects of market volatilities on Inpixon and Pubmatic 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 Inpixon with a short position of Pubmatic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inpixon and Pubmatic.
Diversification Opportunities for Inpixon and Pubmatic
Very good diversification
The 3 months correlation between Inpixon and Pubmatic is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Inpixon and Pubmatic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Pubmatic and Inpixon 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 Inpixon are associated (or correlated) with Pubmatic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Pubmatic has no effect on the direction of Inpixon i.e., Inpixon and Pubmatic go up and down completely randomly.
Pair Corralation between Inpixon and Pubmatic
Given the investment horizon of 90 days Inpixon is expected to under-perform the Pubmatic. In addition to that, Inpixon is 3.74 times more volatile than Pubmatic. It trades about -0.07 of its total potential returns per unit of risk. Pubmatic is currently generating about 0.03 per unit of volatility. If you would invest 1,368 in Pubmatic on September 3, 2024 and sell it today you would earn a total of 227.00 from holding Pubmatic or generate 16.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 30.91% |
| Values | Daily Returns |
Inpixon vs. Pubmatic
Performance |
| Timeline |
| Inpixon |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Pubmatic |
Inpixon and Pubmatic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inpixon and Pubmatic
The main advantage of trading using opposite Inpixon and Pubmatic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inpixon position performs unexpectedly, Pubmatic 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 Pubmatic will offset losses from the drop in Pubmatic's long position.| Inpixon vs. Trust Stamp | Inpixon vs. HeartCore Enterprises | Inpixon vs. SoundHound AI | Inpixon vs. Infobird Co |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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