Correlation Between Moving IMage and Amplitech
Can any of the company-specific risk be diversified away by investing in both Moving IMage and Amplitech 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 Moving IMage and Amplitech into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Moving iMage Technologies and Amplitech Group, you can compare the effects of market volatilities on Moving IMage and Amplitech 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 Moving IMage with a short position of Amplitech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Moving IMage and Amplitech.
Diversification Opportunities for Moving IMage and Amplitech
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Moving and Amplitech is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Moving iMage Technologies and Amplitech Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplitech Group and Moving IMage 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 Moving iMage Technologies are associated (or correlated) with Amplitech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplitech Group has no effect on the direction of Moving IMage i.e., Moving IMage and Amplitech go up and down completely randomly.
Pair Corralation between Moving IMage and Amplitech
Given the investment horizon of 90 days Moving iMage Technologies is expected to generate 0.99 times more return on investment than Amplitech. However, Moving iMage Technologies is 1.01 times less risky than Amplitech. It trades about 0.01 of its potential returns per unit of risk. Amplitech Group is currently generating about -0.03 per unit of risk. If you would invest 97.00 in Moving iMage Technologies on August 31, 2024 and sell it today you would lose (32.00) from holding Moving iMage Technologies or give up 32.99% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Moving iMage Technologies vs. Amplitech Group
Performance |
| Timeline |
| Moving iMage Technologies |
| Amplitech Group |
Moving IMage and Amplitech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Moving IMage and Amplitech
The main advantage of trading using opposite Moving IMage and Amplitech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Moving IMage position performs unexpectedly, Amplitech 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 Amplitech will offset losses from the drop in Amplitech's long position.| Moving IMage vs. Franklin Wireless Corp | Moving IMage vs. Wialan Technologies | Moving IMage vs. TPT Global Tech | Moving IMage vs. Comtech Telecommunications Corp |
| Amplitech vs. AmpliTech Group | Amplitech vs. AAC Technologies Holdings | Amplitech vs. Aerkomm | Amplitech vs. Airgain |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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