Correlation Between Logiq and Nogin
Can any of the company-specific risk be diversified away by investing in both Logiq and Nogin 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 Nogin into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Logiq Inc and Nogin Inc, you can compare the effects of market volatilities on Logiq and Nogin 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 Nogin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Logiq and Nogin.
Diversification Opportunities for Logiq and Nogin
Pay attention - limited upside
The 3 months correlation between Logiq and Nogin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Logiq Inc and Nogin Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nogin Inc 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 Nogin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nogin Inc has no effect on the direction of Logiq i.e., Logiq and Nogin go up and down completely randomly.
Pair Corralation between Logiq and Nogin
If you would invest 27.00 in Logiq Inc on November 9, 2024 and sell it today you would lose (25.35) from holding Logiq Inc or give up 93.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Logiq Inc vs. Nogin Inc
Performance |
| Timeline |
| Logiq Inc |
| Nogin Inc |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Logiq and Nogin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Logiq and Nogin
The main advantage of trading using opposite Logiq and Nogin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Logiq position performs unexpectedly, Nogin 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 Nogin will offset losses from the drop in Nogin's long position.| 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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