Correlation Between IX Acquisition and Perception Capital
Can any of the company-specific risk be diversified away by investing in both IX Acquisition and Perception Capital 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 Perception Capital 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 Perception Capital Corp, you can compare the effects of market volatilities on IX Acquisition and Perception Capital 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 Perception Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of IX Acquisition and Perception Capital.
Diversification Opportunities for IX Acquisition and Perception Capital
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between IXAQU and Perception is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding IX Acquisition Corp and Perception Capital Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Perception Capital Corp 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 Perception Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Perception Capital Corp has no effect on the direction of IX Acquisition i.e., IX Acquisition and Perception Capital go up and down completely randomly.
Pair Corralation between IX Acquisition and Perception Capital
If you would invest 1,085 in Perception Capital Corp on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Perception Capital Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
IX Acquisition Corp vs. Perception Capital Corp
Performance |
| Timeline |
| IX Acquisition Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Perception Capital Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
IX Acquisition and Perception Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with IX Acquisition and Perception Capital
The main advantage of trading using opposite IX Acquisition and Perception Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if IX Acquisition position performs unexpectedly, Perception Capital 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 Perception Capital will offset losses from the drop in Perception Capital's long position.| IX Acquisition vs. Pinterest | IX Acquisition vs. Duluth Holdings | IX Acquisition vs. KVH Industries | IX Acquisition vs. Burlington Stores |
| Perception Capital vs. Steven Madden | Perception Capital vs. Timken Company | Perception Capital vs. Virgin Group Acquisition | Perception Capital vs. Trupanion |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |