Correlation Between Marchex and AMFAHI
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By analyzing existing cross correlation between Marchex and AMFAHI 3833 11 MAR 51, you can compare the effects of market volatilities on Marchex and AMFAHI 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 Marchex with a short position of AMFAHI. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marchex and AMFAHI.
Diversification Opportunities for Marchex and AMFAHI
Very good diversification
The 3 months correlation between Marchex and AMFAHI is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Marchex and AMFAHI 3833 11 MAR 51 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMFAHI 3833 11 and Marchex 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 Marchex are associated (or correlated) with AMFAHI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMFAHI 3833 11 has no effect on the direction of Marchex i.e., Marchex and AMFAHI go up and down completely randomly.
Pair Corralation between Marchex and AMFAHI
Given the investment horizon of 90 days Marchex is expected to generate 1.58 times more return on investment than AMFAHI. However, Marchex is 1.58 times more volatile than AMFAHI 3833 11 MAR 51. It trades about 0.02 of its potential returns per unit of risk. AMFAHI 3833 11 MAR 51 is currently generating about -0.05 per unit of risk. If you would invest 185.00 in Marchex on August 30, 2024 and sell it today you would earn a total of 1.00 from holding Marchex or generate 0.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 21.82% |
| Values | Daily Returns |
Marchex vs. AMFAHI 3833 11 MAR 51
Performance |
| Timeline |
| Marchex |
| AMFAHI 3833 11 |
Marchex and AMFAHI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marchex and AMFAHI
The main advantage of trading using opposite Marchex and AMFAHI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marchex position performs unexpectedly, AMFAHI 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 AMFAHI will offset losses from the drop in AMFAHI's long position.| Marchex vs. Entravision Communications | Marchex vs. Direct Digital Holdings | Marchex vs. Cimpress NV | Marchex vs. Townsquare Media |
| AMFAHI vs. Entravision Communications | AMFAHI vs. National CineMedia | AMFAHI vs. Sandstorm Gold Ltd | AMFAHI vs. Marchex |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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