Correlation Between SpringBig Holdings and Cuentas
Can any of the company-specific risk be diversified away by investing in both SpringBig Holdings and Cuentas 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 SpringBig Holdings and Cuentas into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SpringBig Holdings and Cuentas, you can compare the effects of market volatilities on SpringBig Holdings and Cuentas 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 SpringBig Holdings with a short position of Cuentas. Check out your portfolio center. Please also check ongoing floating volatility patterns of SpringBig Holdings and Cuentas.
Diversification Opportunities for SpringBig Holdings and Cuentas
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between SpringBig and Cuentas is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding SpringBig Holdings and Cuentas in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cuentas and SpringBig Holdings 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 SpringBig Holdings are associated (or correlated) with Cuentas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cuentas has no effect on the direction of SpringBig Holdings i.e., SpringBig Holdings and Cuentas go up and down completely randomly.
Pair Corralation between SpringBig Holdings and Cuentas
If you would invest 513.00 in Cuentas on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Cuentas or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SpringBig Holdings vs. Cuentas
Performance |
| Timeline |
| SpringBig Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Cuentas |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
SpringBig Holdings and Cuentas Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SpringBig Holdings and Cuentas
The main advantage of trading using opposite SpringBig Holdings and Cuentas positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SpringBig Holdings position performs unexpectedly, Cuentas 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 Cuentas will offset losses from the drop in Cuentas' long position.| SpringBig Holdings vs. OLB Group | SpringBig Holdings vs. Friendable | SpringBig Holdings vs. LifeSpeak | SpringBig Holdings vs. Creative Realities |
| Cuentas vs. Auddia Inc | Cuentas vs. Bridgeline Digital | Cuentas vs. Mediaco Holding | Cuentas vs. Digital Brands Group |
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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