Correlation Between Logiq and Freight Technologies
Can any of the company-specific risk be diversified away by investing in both Logiq and Freight Technologies 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 Logiq and Freight Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Logiq Inc and Freight Technologies, you can compare the effects of market volatilities on Logiq and Freight Technologies 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 Logiq with a short position of Freight Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Logiq and Freight Technologies.
Diversification Opportunities for Logiq and Freight Technologies
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Logiq and Freight is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Logiq Inc and Freight Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Freight Technologies and Logiq 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 Logiq Inc are associated (or correlated) with Freight Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Freight Technologies has no effect on the direction of Logiq i.e., Logiq and Freight Technologies go up and down completely randomly.
Pair Corralation between Logiq and Freight Technologies
Given the investment horizon of 90 days Logiq Inc is expected to generate 2.27 times more return on investment than Freight Technologies. However, Logiq is 2.27 times more volatile than Freight Technologies. It trades about 0.3 of its potential returns per unit of risk. Freight Technologies is currently generating about -0.22 per unit of risk. If you would invest 0.90 in Logiq Inc on November 9, 2024 and sell it today you would earn a total of 0.75 from holding Logiq Inc or generate 83.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Logiq Inc vs. Freight Technologies
Performance |
| Timeline |
| Logiq Inc |
| Freight Technologies |
Logiq and Freight Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Logiq and Freight Technologies
The main advantage of trading using opposite Logiq and Freight Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Logiq position performs unexpectedly, Freight Technologies 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 Freight Technologies will offset losses from the drop in Freight Technologies' long position.| Logiq vs. Tenet Fintech Group | Logiq vs. FansUnite Entertainment | Logiq vs. FingerMotion | Logiq vs. GoLogiq |
| Freight Technologies vs. Infobird Co | Freight Technologies vs. HeartCore Enterprises | Freight Technologies vs. CXApp Inc | Freight Technologies vs. Quhuo |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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