Correlation Between Atlanticus Holdings and Xiaobai Maimai
Can any of the company-specific risk be diversified away by investing in both Atlanticus Holdings and Xiaobai Maimai 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 Atlanticus Holdings and Xiaobai Maimai into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atlanticus Holdings and Xiaobai Maimai, you can compare the effects of market volatilities on Atlanticus Holdings and Xiaobai Maimai 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 Atlanticus Holdings with a short position of Xiaobai Maimai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atlanticus Holdings and Xiaobai Maimai.
Diversification Opportunities for Atlanticus Holdings and Xiaobai Maimai
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Atlanticus and Xiaobai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Atlanticus Holdings and Xiaobai Maimai in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiaobai Maimai and Atlanticus Holdings 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 Atlanticus Holdings are associated (or correlated) with Xiaobai Maimai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiaobai Maimai has no effect on the direction of Atlanticus Holdings i.e., Atlanticus Holdings and Xiaobai Maimai go up and down completely randomly.
Pair Corralation between Atlanticus Holdings and Xiaobai Maimai
If you would invest (100.00) in Xiaobai Maimai on February 6, 2024 and sell it today you would earn a total of 100.00 from holding Xiaobai Maimai 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 |
Atlanticus Holdings vs. Xiaobai Maimai
Performance |
| Timeline |
| Atlanticus Holdings |
| Xiaobai Maimai |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Atlanticus Holdings and Xiaobai Maimai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atlanticus Holdings and Xiaobai Maimai
The main advantage of trading using opposite Atlanticus Holdings and Xiaobai Maimai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atlanticus Holdings position performs unexpectedly, Xiaobai Maimai 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 Xiaobai Maimai will offset losses from the drop in Xiaobai Maimai's long position.| Atlanticus Holdings vs. Visa Class A | Atlanticus Holdings vs. Diamond Hill Investment | Atlanticus Holdings vs. Distoken Acquisition | Atlanticus Holdings vs. AllianceBernstein Holding LP |
| Xiaobai Maimai vs. Encore Wire | Xiaobai Maimai vs. Vita Coco | Xiaobai Maimai vs. Fresh Grapes LLC | Xiaobai Maimai vs. Ternium SA ADR |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Other Complementary Tools
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |