Correlation Between Maiden Holdings and QT Imaging
Can any of the company-specific risk be diversified away by investing in both Maiden Holdings and QT Imaging 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 Maiden Holdings and QT Imaging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Maiden Holdings and QT Imaging Holdings, you can compare the effects of market volatilities on Maiden Holdings and QT Imaging 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 Maiden Holdings with a short position of QT Imaging. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maiden Holdings and QT Imaging.
Diversification Opportunities for Maiden Holdings and QT Imaging
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Maiden and QTI is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding Maiden Holdings and QT Imaging Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QT Imaging Holdings and Maiden Holdings 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 Maiden Holdings are associated (or correlated) with QT Imaging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QT Imaging Holdings has no effect on the direction of Maiden Holdings i.e., Maiden Holdings and QT Imaging go up and down completely randomly.
Pair Corralation between Maiden Holdings and QT Imaging
Given the investment horizon of 90 days Maiden Holdings is expected to generate 0.28 times more return on investment than QT Imaging. However, Maiden Holdings is 3.59 times less risky than QT Imaging. It trades about 0.03 of its potential returns per unit of risk. QT Imaging Holdings is currently generating about -0.07 per unit of risk. If you would invest 1,480 in Maiden Holdings on August 31, 2024 and sell it today you would earn a total of 195.00 from holding Maiden Holdings or generate 13.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.06% |
| Values | Daily Returns |
Maiden Holdings vs. QT Imaging Holdings
Performance |
| Timeline |
| Maiden Holdings |
| QT Imaging Holdings |
Maiden Holdings and QT Imaging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maiden Holdings and QT Imaging
The main advantage of trading using opposite Maiden Holdings and QT Imaging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maiden Holdings position performs unexpectedly, QT Imaging 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 QT Imaging will offset losses from the drop in QT Imaging's long position.| Maiden Holdings vs. Maiden Holdings North | Maiden Holdings vs. Reinsurance Group of | Maiden Holdings vs. Entergy Arkansas LLC | Maiden Holdings vs. Entergy New Orleans |
| QT Imaging vs. Teleflex Incorporated | QT Imaging vs. QBE Insurance Group | QT Imaging vs. Cincinnati Financial | QT Imaging vs. Maiden Holdings |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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