Correlation Between Imageware Sys and AB International
Can any of the company-specific risk be diversified away by investing in both Imageware Sys and AB International 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 Imageware Sys and AB International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Imageware Sys and AB International Group, you can compare the effects of market volatilities on Imageware Sys and AB International 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 Imageware Sys with a short position of AB International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Imageware Sys and AB International.
Diversification Opportunities for Imageware Sys and AB International
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Imageware and ABQQ is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Imageware Sys and AB International Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AB International and Imageware Sys 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 Imageware Sys are associated (or correlated) with AB International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AB International has no effect on the direction of Imageware Sys i.e., Imageware Sys and AB International go up and down completely randomly.
Pair Corralation between Imageware Sys and AB International
If you would invest 0.07 in AB International Group on September 6, 2024 and sell it today you would earn a total of 0.01 from holding AB International Group or generate 14.29% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 1.56% |
Values | Daily Returns |
Imageware Sys vs. AB International Group
Performance |
Timeline |
Imageware Sys |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
AB International |
Imageware Sys and AB International Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Imageware Sys and AB International
The main advantage of trading using opposite Imageware Sys and AB International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Imageware Sys position performs unexpectedly, AB International 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 AB International will offset losses from the drop in AB International's long position.Imageware Sys vs. NetSol Technologies | Imageware Sys vs. MIND CTI | Imageware Sys vs. PDF Solutions | Imageware Sys vs. Ua Multimedia |
AB International vs. Peer To Peer | AB International vs. AppYea Inc | AB International vs. Image Protect | AB International vs. Bowmo 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |