Correlation Between Aeye and SOCGEN
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By analyzing existing cross correlation between Aeye Inc and SOCGEN 4351 13 JUN 25, you can compare the effects of market volatilities on Aeye and SOCGEN 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 Aeye with a short position of SOCGEN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aeye and SOCGEN.
Diversification Opportunities for Aeye and SOCGEN
Very good diversification
The 3 months correlation between Aeye and SOCGEN is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Aeye Inc and SOCGEN 4351 13 JUN 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOCGEN 4351 13 and Aeye 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 Aeye Inc are associated (or correlated) with SOCGEN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOCGEN 4351 13 has no effect on the direction of Aeye i.e., Aeye and SOCGEN go up and down completely randomly.
Pair Corralation between Aeye and SOCGEN
Given the investment horizon of 90 days Aeye Inc is expected to generate 18.63 times more return on investment than SOCGEN. However, Aeye is 18.63 times more volatile than SOCGEN 4351 13 JUN 25. It trades about 0.07 of its potential returns per unit of risk. SOCGEN 4351 13 JUN 25 is currently generating about -0.28 per unit of risk. If you would invest 108.00 in Aeye Inc on September 2, 2024 and sell it today you would earn a total of 5.00 from holding Aeye Inc or generate 4.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 47.62% |
| Values | Daily Returns |
Aeye Inc vs. SOCGEN 4351 13 JUN 25
Performance |
| Timeline |
| Aeye Inc |
| SOCGEN 4351 13 |
Aeye and SOCGEN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aeye and SOCGEN
The main advantage of trading using opposite Aeye and SOCGEN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aeye position performs unexpectedly, SOCGEN 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 SOCGEN will offset losses from the drop in SOCGEN's long position.| Aeye vs. Innoviz Technologies | Aeye vs. Hesai Group American | Aeye vs. Luminar Technologies | Aeye vs. Mobileye Global Class |
| SOCGEN vs. Naked Wines plc | SOCGEN vs. PepsiCo | SOCGEN vs. Celsius Holdings | SOCGEN vs. National Beverage Corp |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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