Correlation Between Inpixon and CXApp

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

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

Diversification Opportunities for Inpixon and CXApp

0.89

Correlation Coefficient

Inpixon  CXApp

Very poor diversification

The 3 months correlation between Inpixon and CXApp is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Inpixon and CXApp Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CXApp Inc and Inpixon 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 Inpixon are associated (or correlated) with CXApp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CXApp Inc has no effect on the direction of Inpixon i.e., Inpixon and CXApp go up and down completely randomly.

Pair Corralation between Inpixon and CXApp

If you would invest  15.00  in Inpixon on August 30, 2024 and sell it today you would earn a total of  0.00  from holding Inpixon or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Strong
Accuracy	1.56%
Values	Daily Returns

Inpixon  vs.  CXApp Inc

Inpixon

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Inpixon has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, Inpixon is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short-term losses for the investors.

CXApp Inc

Risk-Adjusted Performance

0 of 100

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 December 2024. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

Pair Trading with Inpixon and CXApp

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

The idea behind Inpixon and CXApp 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.

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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.