Correlation Between Ainos and LIFW Old

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Can any of the company-specific risk be diversified away by investing in both Ainos and LIFW Old 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 Ainos and LIFW Old into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ainos Inc and LIFW Old, you can compare the effects of market volatilities on Ainos and LIFW Old 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 Ainos with a short position of LIFW Old. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ainos and LIFW Old.

Diversification Opportunities for Ainos and LIFW Old

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Ainos and LIFW is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ainos Inc and LIFW Old in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LIFW Old and Ainos 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 Ainos Inc are associated (or correlated) with LIFW Old. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LIFW Old has no effect on the direction of Ainos i.e., Ainos and LIFW Old go up and down completely randomly.

Pair Corralation between Ainos and LIFW Old

If you would invest  45.00  in Ainos Inc on December 27, 2024 and sell it today you would earn a total of  7.00  from holding Ainos Inc or generate 15.56% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Ainos Inc  vs.  LIFW Old

 Performance 
       Timeline  
Ainos Inc 

Risk-Adjusted Performance

Modest

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Ainos Inc are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of rather unfluctuating primary indicators, Ainos exhibited solid returns over the last few months and may actually be approaching a breakup point.
LIFW Old 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days LIFW Old has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable technical and fundamental indicators, LIFW Old is not utilizing all of its potentials. The latest stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Ainos and LIFW Old Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Ainos and LIFW Old

The main advantage of trading using opposite Ainos and LIFW Old positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ainos position performs unexpectedly, LIFW Old 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 LIFW Old will offset losses from the drop in LIFW Old's long position.
The idea behind Ainos Inc and LIFW Old pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.

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