Correlation Between Xilinx and Flux Power
Can any of the company-specific risk be diversified away by investing in both Xilinx and Flux Power 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 Xilinx and Flux Power into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Xilinx Inc and Flux Power Holdings, you can compare the effects of market volatilities on Xilinx and Flux Power 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 Xilinx with a short position of Flux Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xilinx and Flux Power.
Diversification Opportunities for Xilinx and Flux Power
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Xilinx and Flux is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Xilinx Inc and Flux Power Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Flux Power Holdings and Xilinx 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 Xilinx Inc are associated (or correlated) with Flux Power. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Flux Power Holdings has no effect on the direction of Xilinx i.e., Xilinx and Flux Power go up and down completely randomly.
Pair Corralation between Xilinx and Flux Power
If you would invest 260.00 in Flux Power Holdings on January 25, 2024 and sell it today you would earn a total of 177.00 from holding Flux Power Holdings or generate 68.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Xilinx Inc vs. Flux Power Holdings
Performance |
| Timeline |
| Xilinx Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Flux Power Holdings |
Xilinx and Flux Power Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xilinx and Flux Power
The main advantage of trading using opposite Xilinx and Flux Power positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xilinx position performs unexpectedly, Flux Power 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 Flux Power will offset losses from the drop in Flux Power's long position.| Xilinx vs. Avient Corp | Xilinx vs. US GoldMining Common | Xilinx vs. Mesa Air Group | Xilinx vs. Alto Ingredients |
| Flux Power vs. Enovix Corp | Flux Power vs. FREYR Battery SA | Flux Power vs. Eos Energy Enterprises | Flux Power vs. Pioneer Power Solutions |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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