Correlation Between Praxis Home and FCS Software
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By analyzing existing cross correlation between Praxis Home Retail and FCS Software Solutions, you can compare the effects of market volatilities on Praxis Home and FCS Software 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 Praxis Home with a short position of FCS Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Praxis Home and FCS Software.
Diversification Opportunities for Praxis Home and FCS Software
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Praxis and FCS is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Home Retail and FCS Software Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FCS Software Solutions and Praxis Home 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 Praxis Home Retail are associated (or correlated) with FCS Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FCS Software Solutions has no effect on the direction of Praxis Home i.e., Praxis Home and FCS Software go up and down completely randomly.
Pair Corralation between Praxis Home and FCS Software
Assuming the 90 days trading horizon Praxis Home Retail is expected to generate 1.08 times more return on investment than FCS Software. However, Praxis Home is 1.08 times more volatile than FCS Software Solutions. It trades about 0.08 of its potential returns per unit of risk. FCS Software Solutions is currently generating about -0.06 per unit of risk. If you would invest 1,474 in Praxis Home Retail on October 26, 2024 and sell it today you would earn a total of 388.00 from holding Praxis Home Retail or generate 26.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Praxis Home Retail vs. FCS Software Solutions
Performance |
| Timeline |
| Praxis Home Retail |
| FCS Software Solutions |
Praxis Home and FCS Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Praxis Home and FCS Software
The main advantage of trading using opposite Praxis Home and FCS Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Praxis Home position performs unexpectedly, FCS Software 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 FCS Software will offset losses from the drop in FCS Software's long position.| Praxis Home vs. Kingfa Science Technology | Praxis Home vs. Rico Auto Industries | Praxis Home vs. GACM Technologies Limited | Praxis Home vs. COSMO FIRST LIMITED |
| FCS Software vs. Tube Investments of | FCS Software vs. POWERGRID Infrastructure Investment | FCS Software vs. Landmark Cars Limited | FCS Software vs. DiGiSPICE Technologies Limited |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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