Correlation Between Soluna Holdings and Flint Telecom
Can any of the company-specific risk be diversified away by investing in both Soluna Holdings and Flint Telecom 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 Soluna Holdings and Flint Telecom into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Soluna Holdings and Flint Telecom Group, you can compare the effects of market volatilities on Soluna Holdings and Flint Telecom 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 Soluna Holdings with a short position of Flint Telecom. Check out your portfolio center. Please also check ongoing floating volatility patterns of Soluna Holdings and Flint Telecom.
Diversification Opportunities for Soluna Holdings and Flint Telecom
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Soluna and Flint is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Soluna Holdings and Flint Telecom Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flint Telecom Group and Soluna 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 Soluna Holdings are associated (or correlated) with Flint Telecom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flint Telecom Group has no effect on the direction of Soluna Holdings i.e., Soluna Holdings and Flint Telecom go up and down completely randomly.
Pair Corralation between Soluna Holdings and Flint Telecom
Given the investment horizon of 90 days Soluna Holdings is expected to under-perform the Flint Telecom. But the stock apears to be less risky and, when comparing its historical volatility, Soluna Holdings is 1.4 times less risky than Flint Telecom. The stock trades about -0.01 of its potential returns per unit of risk. The Flint Telecom Group is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 500.00 in Flint Telecom Group on December 11, 2024 and sell it today you would lose (428.00) from holding Flint Telecom Group or give up 85.6% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Soluna Holdings vs. Flint Telecom Group
Performance |
| Timeline |
| Soluna Holdings |
| Flint Telecom Group |
Soluna Holdings and Flint Telecom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Soluna Holdings and Flint Telecom
The main advantage of trading using opposite Soluna Holdings and Flint Telecom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Soluna Holdings position performs unexpectedly, Flint Telecom 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 Flint Telecom will offset losses from the drop in Flint Telecom's long position.| Soluna Holdings vs. CLPS Inc | ||
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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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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