Correlation Between Kaltura and CXApp
Can any of the company-specific risk be diversified away by investing in both Kaltura and CXApp 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 Kaltura and CXApp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kaltura and CXApp Inc, you can compare the effects of market volatilities on Kaltura and CXApp 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 Kaltura with a short position of CXApp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kaltura and CXApp.
Diversification Opportunities for Kaltura and CXApp
Good diversification
The 3 months correlation between Kaltura and CXApp is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Kaltura and CXApp Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CXApp Inc and Kaltura 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 Kaltura are associated (or correlated) with CXApp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CXApp Inc has no effect on the direction of Kaltura i.e., Kaltura and CXApp go up and down completely randomly.
Pair Corralation between Kaltura and CXApp
Given the investment horizon of 90 days Kaltura is expected to generate 6.78 times less return on investment than CXApp. But when comparing it to its historical volatility, Kaltura is 3.98 times less risky than CXApp. It trades about 0.03 of its potential returns per unit of risk. CXApp Inc is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 47.00 in CXApp Inc on September 12, 2024 and sell it today you would lose (25.00) from holding CXApp Inc or give up 53.19% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.43% |
| Values | Daily Returns |
Kaltura vs. CXApp Inc
Performance |
| Timeline |
| Kaltura |
| CXApp Inc |
Kaltura and CXApp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kaltura and CXApp
The main advantage of trading using opposite Kaltura and CXApp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kaltura position performs unexpectedly, CXApp 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 CXApp will offset losses from the drop in CXApp's long position.| Kaltura vs. Evertec | Kaltura vs. Consensus Cloud Solutions | Kaltura vs. Global Blue Group | Kaltura vs. Lesaka Technologies |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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