Correlation Between IX Acquisition and Oxbridge Acquisition
Can any of the company-specific risk be diversified away by investing in both IX Acquisition and Oxbridge Acquisition 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 IX Acquisition and Oxbridge Acquisition into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between IX Acquisition Corp and Oxbridge Acquisition Equity, you can compare the effects of market volatilities on IX Acquisition and Oxbridge Acquisition 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 IX Acquisition with a short position of Oxbridge Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of IX Acquisition and Oxbridge Acquisition.
Diversification Opportunities for IX Acquisition and Oxbridge Acquisition
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between IXAQ and Oxbridge is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding IX Acquisition Corp and Oxbridge Acquisition Equity in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oxbridge Acquisition and IX Acquisition 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 IX Acquisition Corp are associated (or correlated) with Oxbridge Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oxbridge Acquisition has no effect on the direction of IX Acquisition i.e., IX Acquisition and Oxbridge Acquisition go up and down completely randomly.
Pair Corralation between IX Acquisition and Oxbridge Acquisition
If you would invest 5.34 in Oxbridge Acquisition Equity on September 5, 2024 and sell it today you would earn a total of 0.00 from holding Oxbridge Acquisition Equity or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 4.76% |
| Values | Daily Returns |
IX Acquisition Corp vs. Oxbridge Acquisition Equity
Performance |
| Timeline |
| IX Acquisition Corp |
| Oxbridge Acquisition |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
IX Acquisition and Oxbridge Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IX Acquisition and Oxbridge Acquisition
The main advantage of trading using opposite IX Acquisition and Oxbridge Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IX Acquisition position performs unexpectedly, Oxbridge Acquisition 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 Oxbridge Acquisition will offset losses from the drop in Oxbridge Acquisition's long position.| IX Acquisition vs. Thunder Bridge Capital | IX Acquisition vs. Welsbach Technology Metals | IX Acquisition vs. BurTech Acquisition Corp |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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