Correlation Between Haoxi Health and Ibotta,

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

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

Diversification Opportunities for Haoxi Health and Ibotta,

-0.04

Correlation Coefficient

Haoxi Health  Ibotta,

Good diversification

The 3 months correlation between Haoxi and Ibotta, is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Haoxi Health Technology and Ibotta, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ibotta, and Haoxi Health 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 Haoxi Health Technology are associated (or correlated) with Ibotta,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ibotta, has no effect on the direction of Haoxi Health i.e., Haoxi Health and Ibotta, go up and down completely randomly.

Pair Corralation between Haoxi Health and Ibotta,

Considering the 90-day investment horizon Haoxi Health Technology is expected to under-perform the Ibotta,. In addition to that, Haoxi Health is 2.7 times more volatile than Ibotta,. It trades about -0.06 of its total potential returns per unit of risk. Ibotta, is currently generating about -0.02 per unit of volatility. If you would invest  9,800  in Ibotta, on October 11, 2024 and sell it today you would lose (2,955) from holding Ibotta, or give up 30.15% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	75.52%
Values	Daily Returns

Haoxi Health Technology  vs.  Ibotta,

Haoxi Health Technology

Risk-Adjusted Performance

2 of 100

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Haoxi Health Technology are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of very weak basic indicators, Haoxi Health displayed solid returns over the last few months and may actually be approaching a breakup point.

Ibotta,

Risk-Adjusted Performance

2 of 100

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Ibotta, are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite somewhat unfluctuating basic indicators, Ibotta, may actually be approaching a critical reversion point that can send shares even higher in February 2025.

Pair Trading with Haoxi Health and Ibotta,

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

The idea behind Haoxi Health Technology and Ibotta, 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.

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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.