Correlation Between Ault Global and AMC Entertainment
Can any of the company-specific risk be diversified away by investing in both Ault Global and AMC Entertainment 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 Ault Global and AMC Entertainment into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ault Global Holdings and AMC Entertainment Holdings, you can compare the effects of market volatilities on Ault Global and AMC Entertainment 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 Ault Global with a short position of AMC Entertainment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ault Global and AMC Entertainment.
Diversification Opportunities for Ault Global and AMC Entertainment
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ault and AMC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ault Global Holdings and AMC Entertainment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AMC Entertainment and Ault Global 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 Ault Global Holdings are associated (or correlated) with AMC Entertainment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AMC Entertainment has no effect on the direction of Ault Global i.e., Ault Global and AMC Entertainment go up and down completely randomly.
Pair Corralation between Ault Global and AMC Entertainment
If you would invest (100.00) in Ault Global Holdings on January 25, 2024 and sell it today you would earn a total of 100.00 from holding Ault Global Holdings or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Ault Global Holdings vs. AMC Entertainment Holdings
Performance |
| Timeline |
| Ault Global Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| AMC Entertainment |
Ault Global and AMC Entertainment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ault Global and AMC Entertainment
The main advantage of trading using opposite Ault Global and AMC Entertainment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ault Global position performs unexpectedly, AMC Entertainment 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 AMC Entertainment will offset losses from the drop in AMC Entertainment's long position.| Ault Global vs. Minerals Technologies | Ault Global vs. Transphorm Technology | Ault Global vs. The Cheesecake Factory | Ault Global vs. Texas Roadhouse |
| AMC Entertainment vs. Roku Inc | AMC Entertainment vs. Paramount Global Class | AMC Entertainment vs. Warner Bros Discovery | AMC Entertainment vs. Paramount Global Class |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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