Correlation Between Intuitive Machines and Xiabuxiabu Catering

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

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

Diversification Opportunities for Intuitive Machines and Xiabuxiabu Catering

-0.52

Correlation Coefficient

Intuitive Machines  Xiabuxiabu Catering

Excellent diversification

The 3 months correlation between Intuitive and Xiabuxiabu is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Intuitive Machines and Xiabuxiabu Catering Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiabuxiabu Catering and Intuitive Machines 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 Intuitive Machines are associated (or correlated) with Xiabuxiabu Catering. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiabuxiabu Catering has no effect on the direction of Intuitive Machines i.e., Intuitive Machines and Xiabuxiabu Catering go up and down completely randomly.

Pair Corralation between Intuitive Machines and Xiabuxiabu Catering

Given the investment horizon of 90 days Intuitive Machines is expected to generate 1.32 times more return on investment than Xiabuxiabu Catering. However, Intuitive Machines is 1.32 times more volatile than Xiabuxiabu Catering Management. It trades about 0.11 of its potential returns per unit of risk. Xiabuxiabu Catering Management is currently generating about -0.09 per unit of risk. If you would invest  274.00  in Intuitive Machines on September 14, 2024 and sell it today you would earn a total of  906.00  from holding Intuitive Machines or generate 330.66% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	99.6%
Values	Daily Returns

Intuitive Machines  vs.  Xiabuxiabu Catering Management

Intuitive Machines

Risk-Adjusted Performance

13 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Intuitive Machines are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. Even with relatively weak basic indicators, Intuitive Machines reported solid returns over the last few months and may actually be approaching a breakup point.

Xiabuxiabu Catering

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Xiabuxiabu Catering Management has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Stock's basic indicators remain stable and the current disturbance on Wall Street may also be a sign of long-run gains for the company stockholders.

Pair Trading with Intuitive Machines and Xiabuxiabu Catering

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

The idea behind Intuitive Machines and Xiabuxiabu Catering Management 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.