Correlation Between WNS Holdings and AgileThought
Can any of the company-specific risk be diversified away by investing in both WNS Holdings and AgileThought 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 WNS Holdings and AgileThought into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WNS Holdings and AgileThought, you can compare the effects of market volatilities on WNS Holdings and AgileThought 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 WNS Holdings with a short position of AgileThought. Check out your portfolio center. Please also check ongoing floating volatility patterns of WNS Holdings and AgileThought.
Diversification Opportunities for WNS Holdings and AgileThought
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between WNS and AgileThought is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding WNS Holdings and AgileThought in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AgileThought and WNS 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 WNS Holdings are associated (or correlated) with AgileThought. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AgileThought has no effect on the direction of WNS Holdings i.e., WNS Holdings and AgileThought go up and down completely randomly.
Pair Corralation between WNS Holdings and AgileThought
Considering the 90-day investment horizon WNS Holdings is expected to under-perform the AgileThought. But the stock apears to be less risky and, when comparing its historical volatility, WNS Holdings is 8.31 times less risky than AgileThought. The stock trades about -0.02 of its potential returns per unit of risk. The AgileThought is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 38.00 in AgileThought on September 2, 2024 and sell it today you would lose (31.00) from holding AgileThought or give up 81.58% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 19.35% |
| Values | Daily Returns |
WNS Holdings vs. AgileThought
Performance |
| Timeline |
| WNS Holdings |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
WNS Holdings and AgileThought Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WNS Holdings and AgileThought
The main advantage of trading using opposite WNS Holdings and AgileThought positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WNS Holdings position performs unexpectedly, AgileThought 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 AgileThought will offset losses from the drop in AgileThought's long position.| WNS Holdings vs. Genpact Limited | WNS Holdings vs. ASGN Inc | WNS Holdings vs. Gartner | WNS Holdings vs. The Hackett Group |
| AgileThought vs. Katapult Holdings Equity | AgileThought vs. Arqit Quantum Warrants | AgileThought vs. AvePoint |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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