Correlation Between Minim and Aerkomm
Can any of the company-specific risk be diversified away by investing in both Minim and Aerkomm 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 Minim and Aerkomm into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Minim Inc and Aerkomm, you can compare the effects of market volatilities on Minim and Aerkomm 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 Minim with a short position of Aerkomm. Check out your portfolio center. Please also check ongoing floating volatility patterns of Minim and Aerkomm.
Diversification Opportunities for Minim and Aerkomm
Pay attention - limited upside
The 3 months correlation between Minim and Aerkomm is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Minim Inc and Aerkomm in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aerkomm and Minim 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 Minim Inc are associated (or correlated) with Aerkomm. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aerkomm has no effect on the direction of Minim i.e., Minim and Aerkomm go up and down completely randomly.
Pair Corralation between Minim and Aerkomm
If you would invest 258.00 in Aerkomm on September 2, 2024 and sell it today you would earn a total of 0.00 from holding Aerkomm or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 28.35% |
| Values | Daily Returns |
Minim Inc vs. Aerkomm
Performance |
| Timeline |
| Minim Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Aerkomm |
Minim and Aerkomm Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Minim and Aerkomm
The main advantage of trading using opposite Minim and Aerkomm positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Minim position performs unexpectedly, Aerkomm 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 Aerkomm will offset losses from the drop in Aerkomm's long position.| Minim vs. Frequency Electronics | Minim vs. Amplitech Group | Minim vs. Optical Cable | Minim vs. Mobilicom Limited American |
| Aerkomm vs. AmpliTech Group | Aerkomm vs. AAP Inc | Aerkomm vs. Airgain | Aerkomm vs. AAC Technologies 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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