Correlation Between Xcelmobility and Touchpoint Group
Can any of the company-specific risk be diversified away by investing in both Xcelmobility and Touchpoint Group 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 Touchpoint Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Xcelmobility and Touchpoint Group Holdings, you can compare the effects of market volatilities on Xcelmobility and Touchpoint Group 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 Touchpoint Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xcelmobility and Touchpoint Group.
Diversification Opportunities for Xcelmobility and Touchpoint Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xcelmobility and Touchpoint is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xcelmobility and Touchpoint Group Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Touchpoint Group Holdings 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 Touchpoint Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Touchpoint Group Holdings has no effect on the direction of Xcelmobility i.e., Xcelmobility and Touchpoint Group go up and down completely randomly.
Pair Corralation between Xcelmobility and Touchpoint Group
Given the investment horizon of 90 days Xcelmobility is expected to generate 2.26 times more return on investment than Touchpoint Group. However, Xcelmobility is 2.26 times more volatile than Touchpoint Group Holdings. It trades about 0.07 of its potential returns per unit of risk. Touchpoint Group Holdings is currently generating about 0.06 per unit of risk. If you would invest 0.00 in Xcelmobility on August 28, 2024 and sell it today you would earn a total of 0.00 from holding Xcelmobility or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.84% |
| Values | Daily Returns |
Xcelmobility vs. Touchpoint Group Holdings
Performance |
| Timeline |
| Xcelmobility |
| Touchpoint Group Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Xcelmobility and Touchpoint Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xcelmobility and Touchpoint Group
The main advantage of trading using opposite Xcelmobility and Touchpoint Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xcelmobility position performs unexpectedly, Touchpoint Group 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 Touchpoint Group will offset losses from the drop in Touchpoint Group's long position.| Xcelmobility vs. Pushfor Investments | Xcelmobility vs. AB International Group | Xcelmobility vs. On4 Communications | Xcelmobility vs. Tautachrome |
| Touchpoint Group vs. Protek Capital | Touchpoint Group vs. On4 Communications | Touchpoint Group vs. Bowmo Inc | Touchpoint Group vs. BHPA 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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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