Correlation Between Reliq Health and AF2 Capital
Can any of the company-specific risk be diversified away by investing in both Reliq Health and AF2 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 Reliq Health and AF2 Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Reliq Health Technologies and AF2 Capital Corp, you can compare the effects of market volatilities on Reliq Health and AF2 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 Reliq Health with a short position of AF2 Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Reliq Health and AF2 Capital.
Diversification Opportunities for Reliq Health and AF2 Capital
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between Reliq and AF2 is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding Reliq Health Technologies and AF2 Capital Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AF2 Capital Corp and Reliq Health 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 Reliq Health Technologies are associated (or correlated) with AF2 Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AF2 Capital Corp has no effect on the direction of Reliq Health i.e., Reliq Health and AF2 Capital go up and down completely randomly.
Pair Corralation between Reliq Health and AF2 Capital
If you would invest 6.00 in AF2 Capital Corp on September 3, 2024 and sell it today you would earn a total of 0.00 from holding AF2 Capital Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Reliq Health Technologies vs. AF2 Capital Corp
Performance |
| Timeline |
| Reliq Health Technologies |
| AF2 Capital Corp |
Reliq Health and AF2 Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Reliq Health and AF2 Capital
The main advantage of trading using opposite Reliq Health and AF2 Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Reliq Health position performs unexpectedly, AF2 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 AF2 Capital will offset losses from the drop in AF2 Capital's long position.| Reliq Health vs. ESE Entertainment | Reliq Health vs. VentriPoint Diagnostics | Reliq Health vs. Datametrex AI |
| AF2 Capital vs. IGM Financial | AF2 Capital vs. Highwood Asset Management | AF2 Capital vs. Definity Financial Corp | AF2 Capital vs. Brookfield Office Properties |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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