Correlation Between KwikClick and Logiq
Can any of the company-specific risk be diversified away by investing in both KwikClick and Logiq 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 KwikClick and Logiq into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KwikClick and Logiq Inc, you can compare the effects of market volatilities on KwikClick and Logiq 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 KwikClick with a short position of Logiq. Check out your portfolio center. Please also check ongoing floating volatility patterns of KwikClick and Logiq.
Diversification Opportunities for KwikClick and Logiq
Poor diversification
The 3 months correlation between KwikClick and Logiq is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding KwikClick and Logiq Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logiq Inc and KwikClick 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 KwikClick are associated (or correlated) with Logiq. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logiq Inc has no effect on the direction of KwikClick i.e., KwikClick and Logiq go up and down completely randomly.
Pair Corralation between KwikClick and Logiq
Given the investment horizon of 90 days KwikClick is expected to generate 1.14 times more return on investment than Logiq. However, KwikClick is 1.14 times more volatile than Logiq Inc. It trades about 0.04 of its potential returns per unit of risk. Logiq Inc is currently generating about 0.0 per unit of risk. If you would invest 47.00 in KwikClick on September 2, 2024 and sell it today you would lose (37.00) from holding KwikClick or give up 78.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
KwikClick vs. Logiq Inc
Performance |
| Timeline |
| KwikClick |
| Logiq Inc |
KwikClick and Logiq Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KwikClick and Logiq
The main advantage of trading using opposite KwikClick and Logiq positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KwikClick position performs unexpectedly, Logiq 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 Logiq will offset losses from the drop in Logiq's long position.| KwikClick vs. Waldencast Acquisition Corp | KwikClick vs. Alkami Technology | KwikClick vs. ADEIA P | KwikClick vs. Paycor HCM |
| Logiq vs. Tenet Fintech Group | Logiq vs. FansUnite Entertainment | Logiq vs. FingerMotion | Logiq vs. GoLogiq |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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