Correlation Between V and Agilyx AS

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

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

Diversification Opportunities for V and Agilyx AS

0.0

Correlation Coefficient

V  Agilyx AS

Pay attention - limited upside

The 3 months correlation between V and Agilyx is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding V Group and Agilyx AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agilyx AS and V 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 V Group are associated (or correlated) with Agilyx AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agilyx AS has no effect on the direction of V i.e., V and Agilyx AS go up and down completely randomly.

Pair Corralation between V and Agilyx AS

If you would invest  0.01  in V Group on December 4, 2024 and sell it today you would earn a total of  0.00  from holding V Group or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

V Group  vs.  Agilyx AS

V Group

Risk-Adjusted Performance

Very Weak

Over the last 90 days V Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound forward indicators, V is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.

Agilyx AS

Risk-Adjusted Performance

Very Weak

Over the last 90 days Agilyx AS has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain nearly stable which may send shares a bit higher in April 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with V and Agilyx AS

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

The idea behind V Group and Agilyx AS 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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.