Correlation Between Spark Networks and Onfolio Holdings
Can any of the company-specific risk be diversified away by investing in both Spark Networks and Onfolio Holdings 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 Spark Networks and Onfolio Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Spark Networks SE and Onfolio Holdings, you can compare the effects of market volatilities on Spark Networks and Onfolio Holdings 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 Spark Networks with a short position of Onfolio Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Spark Networks and Onfolio Holdings.
Diversification Opportunities for Spark Networks and Onfolio Holdings
-0.79 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Spark and Onfolio is -0.79. Overlapping area represents the amount of risk that can be diversified away by holding Spark Networks SE and Onfolio Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Onfolio Holdings and Spark Networks 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 Spark Networks SE are associated (or correlated) with Onfolio Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Onfolio Holdings has no effect on the direction of Spark Networks i.e., Spark Networks and Onfolio Holdings go up and down completely randomly.
Pair Corralation between Spark Networks and Onfolio Holdings
If you would invest 113.00 in Onfolio Holdings on September 25, 2024 and sell it today you would earn a total of 25.00 from holding Onfolio Holdings or generate 22.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 2.38% |
| Values | Daily Returns |
Spark Networks SE vs. Onfolio Holdings
Performance |
| Timeline |
| Spark Networks SE |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Onfolio Holdings |
Spark Networks and Onfolio Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Spark Networks and Onfolio Holdings
The main advantage of trading using opposite Spark Networks and Onfolio Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Spark Networks position performs unexpectedly, Onfolio Holdings 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 Onfolio Holdings will offset losses from the drop in Onfolio Holdings' long position.| Spark Networks vs. Locafy Limited | Spark Networks vs. Metalpha Technology Holding | Spark Networks vs. TuanChe ADR | Spark Networks vs. Thryv Holdings |
| Onfolio Holdings vs. Vivid Seats | Onfolio Holdings vs. EverQuote Class A | Onfolio Holdings vs. Asset Entities Class | Onfolio Holdings vs. Zhihu Inc ADR |
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.
Other Complementary Tools
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |