Correlation Between NETGEAR and AMFAHI
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By analyzing existing cross correlation between NETGEAR and AMFAHI 3833 11 MAR 51, you can compare the effects of market volatilities on NETGEAR 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 NETGEAR with a short position of AMFAHI. Check out your portfolio center. Please also check ongoing floating volatility patterns of NETGEAR and AMFAHI.
Diversification Opportunities for NETGEAR and AMFAHI
Weak diversification
The 3 months correlation between NETGEAR and AMFAHI is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding NETGEAR 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 NETGEAR 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 NETGEAR 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 NETGEAR i.e., NETGEAR and AMFAHI go up and down completely randomly.
Pair Corralation between NETGEAR and AMFAHI
Given the investment horizon of 90 days NETGEAR is expected to generate 2.28 times more return on investment than AMFAHI. However, NETGEAR is 2.28 times more volatile than AMFAHI 3833 11 MAR 51. It trades about 0.15 of its potential returns per unit of risk. AMFAHI 3833 11 MAR 51 is currently generating about 0.07 per unit of risk. If you would invest 1,409 in NETGEAR on September 5, 2024 and sell it today you would earn a total of 1,142 from holding NETGEAR or generate 81.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 29.6% |
| Values | Daily Returns |
NETGEAR vs. AMFAHI 3833 11 MAR 51
Performance |
| Timeline |
| NETGEAR |
| AMFAHI 3833 11 |
NETGEAR and AMFAHI Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with NETGEAR and AMFAHI
The main advantage of trading using opposite NETGEAR and AMFAHI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if NETGEAR 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.| NETGEAR vs. Cambium Networks Corp | NETGEAR vs. KVH Industries | NETGEAR vs. Knowles Cor | NETGEAR vs. Ituran Location and |
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 Stocks Directory module to find actively traded stocks across global markets.
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