Correlation Between CXApp and Nogin

Can any of the company-specific risk be diversified away by investing in both CXApp and Nogin 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 CXApp and Nogin into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between CXApp Inc and Nogin Inc, you can compare the effects of market volatilities on CXApp and Nogin 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 CXApp with a short position of Nogin. Check out your portfolio center. Please also check ongoing floating volatility patterns of CXApp and Nogin.

Diversification Opportunities for CXApp and Nogin

0.0

Correlation Coefficient

CXApp  Nogin

Pay attention - limited upside

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

Pair Corralation between CXApp and Nogin

If you would invest (100.00) in Nogin Inc on December 28, 2024 and sell it today you would earn a total of  100.00  from holding Nogin Inc or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

CXApp Inc  vs.  Nogin Inc

CXApp Inc

Risk-Adjusted Performance

Very Weak

Over the last 90 days CXApp Inc has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unsteady performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in April 2025. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Nogin Inc

Risk-Adjusted Performance

Very Weak

Over the last 90 days Nogin Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy technical and fundamental indicators, Nogin is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with CXApp and Nogin

The main advantage of trading using opposite CXApp and Nogin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CXApp position performs unexpectedly, Nogin 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 Nogin will offset losses from the drop in Nogin's long position.

The idea behind CXApp Inc and Nogin Inc 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.