Correlation Between Marti Technologies and Acm Research
Can any of the company-specific risk be diversified away by investing in both Marti Technologies and Acm Research 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 Marti Technologies and Acm Research into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Marti Technologies and Acm Research, you can compare the effects of market volatilities on Marti Technologies and Acm Research 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 Marti Technologies with a short position of Acm Research. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marti Technologies and Acm Research.
Diversification Opportunities for Marti Technologies and Acm Research
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Marti and Acm is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Marti Technologies and Acm Research in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Acm Research and Marti Technologies 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 Marti Technologies are associated (or correlated) with Acm Research. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Acm Research has no effect on the direction of Marti Technologies i.e., Marti Technologies and Acm Research go up and down completely randomly.
Pair Corralation between Marti Technologies and Acm Research
Considering the 90-day investment horizon Marti Technologies is expected to generate 1.26 times more return on investment than Acm Research. However, Marti Technologies is 1.26 times more volatile than Acm Research. It trades about 0.21 of its potential returns per unit of risk. Acm Research is currently generating about -0.18 per unit of risk. If you would invest 208.00 in Marti Technologies on August 30, 2024 and sell it today you would earn a total of 40.00 from holding Marti Technologies or generate 19.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marti Technologies vs. Acm Research
Performance |
| Timeline |
| Marti Technologies |
| Acm Research |
Marti Technologies and Acm Research Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marti Technologies and Acm Research
The main advantage of trading using opposite Marti Technologies and Acm Research positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marti Technologies position performs unexpectedly, Acm Research 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 Acm Research will offset losses from the drop in Acm Research's long position.| Marti Technologies vs. Zoom Video Communications | Marti Technologies vs. C3 Ai Inc | Marti Technologies vs. Shopify | Marti Technologies vs. Workday |
| Acm Research vs. First Solar | Acm Research vs. Sunrun Inc | Acm Research vs. Canadian Solar | Acm Research vs. SolarEdge Technologies |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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