Correlation Between PennantPark Floating and Maquia Capital
Can any of the company-specific risk be diversified away by investing in both PennantPark Floating and Maquia Capital 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 PennantPark Floating and Maquia Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PennantPark Floating Rate and Maquia Capital Acquisition, you can compare the effects of market volatilities on PennantPark Floating and Maquia Capital 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 PennantPark Floating with a short position of Maquia Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of PennantPark Floating and Maquia Capital.
Diversification Opportunities for PennantPark Floating and Maquia Capital
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between PennantPark and Maquia is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PennantPark Floating Rate and Maquia Capital Acquisition in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maquia Capital Acqui and PennantPark Floating 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 PennantPark Floating Rate are associated (or correlated) with Maquia Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maquia Capital Acqui has no effect on the direction of PennantPark Floating i.e., PennantPark Floating and Maquia Capital go up and down completely randomly.
Pair Corralation between PennantPark Floating and Maquia Capital
If you would invest 1,119 in Maquia Capital Acquisition on September 12, 2024 and sell it today you would earn a total of 0.00 from holding Maquia Capital Acquisition or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
PennantPark Floating Rate vs. Maquia Capital Acquisition
Performance |
| Timeline |
| PennantPark Floating Rate |
| Maquia Capital Acqui |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
PennantPark Floating and Maquia Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PennantPark Floating and Maquia Capital
The main advantage of trading using opposite PennantPark Floating and Maquia Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PennantPark Floating position performs unexpectedly, Maquia Capital 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 Maquia Capital will offset losses from the drop in Maquia Capital's long position.| PennantPark Floating vs. Gladstone Investment | PennantPark Floating vs. Horizon Technology Finance | PennantPark Floating vs. Stellus Capital Investment | PennantPark Floating vs. Prospect Capital |
| Maquia Capital vs. Q2 Holdings | Maquia Capital vs. Warner Music Group | Maquia Capital vs. RCS MediaGroup SpA | Maquia Capital vs. Zoom Video Communications |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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