Correlation Between KwikClick and Inpixon

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

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

Diversification Opportunities for KwikClick and Inpixon

0.89

Correlation Coefficient

KwikClick  Inpixon

Very poor diversification

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

Pair Corralation between KwikClick and Inpixon

If you would invest  15.00  in Inpixon on September 6, 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	1.59%
Values	Daily Returns

KwikClick  vs.  Inpixon

KwikClick

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days KwikClick has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's forward indicators remain quite persistent which may send shares a bit higher in January 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

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.

Pair Trading with KwikClick and Inpixon

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

The idea behind KwikClick and Inpixon 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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.