Correlation Between IX Acquisition and Marblegate Acquisition
Can any of the company-specific risk be diversified away by investing in both IX Acquisition and Marblegate 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 Marblegate 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 Marblegate Acquisition Corp, you can compare the effects of market volatilities on IX Acquisition and Marblegate 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 Marblegate Acquisition. Check out your portfolio center. Please also check ongoing floating volatility patterns of IX Acquisition and Marblegate Acquisition.
Diversification Opportunities for IX Acquisition and Marblegate Acquisition
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between IXAQU and Marblegate is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding IX Acquisition Corp and Marblegate Acquisition Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Marblegate 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 Marblegate Acquisition. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Marblegate Acquisition has no effect on the direction of IX Acquisition i.e., IX Acquisition and Marblegate Acquisition go up and down completely randomly.
Pair Corralation between IX Acquisition and Marblegate Acquisition
If you would invest 1,114 in Marblegate Acquisition Corp on August 30, 2024 and sell it today you would earn a total of 11.00 from holding Marblegate Acquisition Corp or generate 0.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
IX Acquisition Corp vs. Marblegate Acquisition Corp
Performance |
| Timeline |
| IX Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Marblegate Acquisition |
IX Acquisition and Marblegate Acquisition Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IX Acquisition and Marblegate Acquisition
The main advantage of trading using opposite IX Acquisition and Marblegate Acquisition positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IX Acquisition position performs unexpectedly, Marblegate 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 Marblegate Acquisition will offset losses from the drop in Marblegate Acquisition's long position.| IX Acquisition vs. Upper Street Marketing | IX Acquisition vs. Grocery Outlet Holding | IX Acquisition vs. Sea | IX Acquisition vs. Asbury Automotive Group |
| Marblegate Acquisition vs. Microchip Technology | Marblegate Acquisition vs. Taiwan Semiconductor Manufacturing | Marblegate Acquisition vs. KLA Tencor | Marblegate Acquisition vs. Waste Management |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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