Correlation Between Xcelmobility and AB International
Can any of the company-specific risk be diversified away by investing in both Xcelmobility and AB International 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 Xcelmobility and AB International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Xcelmobility and AB International Group, you can compare the effects of market volatilities on Xcelmobility and AB International 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 Xcelmobility with a short position of AB International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xcelmobility and AB International.
Diversification Opportunities for Xcelmobility and AB International
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xcelmobility and ABQQ is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xcelmobility and AB International Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AB International and Xcelmobility 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 Xcelmobility are associated (or correlated) with AB International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AB International has no effect on the direction of Xcelmobility i.e., Xcelmobility and AB International go up and down completely randomly.
Pair Corralation between Xcelmobility and AB International
Given the investment horizon of 90 days Xcelmobility is expected to generate 4.21 times more return on investment than AB International. However, Xcelmobility is 4.21 times more volatile than AB International Group. It trades about 0.1 of its potential returns per unit of risk. AB International Group is currently generating about 0.12 per unit of risk. If you would invest 0.01 in Xcelmobility on August 28, 2024 and sell it today you would lose (0.01) from holding Xcelmobility or give up 100.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xcelmobility vs. AB International Group
Performance |
| Timeline |
| Xcelmobility |
| AB International |
Xcelmobility and AB International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xcelmobility and AB International
The main advantage of trading using opposite Xcelmobility and AB International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xcelmobility position performs unexpectedly, AB International 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 AB International will offset losses from the drop in AB International's long position.| Xcelmobility vs. Pushfor Investments | Xcelmobility vs. AB International Group | Xcelmobility vs. On4 Communications | Xcelmobility vs. Tautachrome |
| AB International vs. Peer To Peer | AB International vs. AppYea Inc | AB International vs. Image Protect | AB International vs. Bowmo Inc |
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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |