Correlation Between MoneyLion and Agilysys

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Can any of the company-specific risk be diversified away by investing in both MoneyLion and Agilysys 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 MoneyLion and Agilysys into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MoneyLion and Agilysys, you can compare the effects of market volatilities on MoneyLion and Agilysys 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 MoneyLion with a short position of Agilysys. Check out your portfolio center. Please also check ongoing floating volatility patterns of MoneyLion and Agilysys.

Diversification Opportunities for MoneyLion and Agilysys

-0.27
  Correlation Coefficient

Very good diversification

The 3 months correlation between MoneyLion and Agilysys is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding MoneyLion and Agilysys in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agilysys and MoneyLion 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 MoneyLion are associated (or correlated) with Agilysys. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agilysys has no effect on the direction of MoneyLion i.e., MoneyLion and Agilysys go up and down completely randomly.

Pair Corralation between MoneyLion and Agilysys

Allowing for the 90-day total investment horizon MoneyLion is expected to generate 2.56 times more return on investment than Agilysys. However, MoneyLion is 2.56 times more volatile than Agilysys. It trades about 0.04 of its potential returns per unit of risk. Agilysys is currently generating about 0.07 per unit of risk. If you would invest  6,600  in MoneyLion on January 22, 2024 and sell it today you would earn a total of  313.00  from holding MoneyLion or generate 4.74% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy99.8%
ValuesDaily Returns

MoneyLion  vs.  Agilysys

 Performance 
       Timeline  
MoneyLion 

Risk-Adjusted Performance

8 of 100

 
Weak
 
Strong
OK
Compared to the overall equity markets, risk-adjusted returns on investments in MoneyLion are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite quite inconsistent essential indicators, MoneyLion disclosed solid returns over the last few months and may actually be approaching a breakup point.
Agilysys 

Risk-Adjusted Performance

0 of 100

 
Weak
 
Strong
Very Weak
Over the last 90 days Agilysys has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Agilysys is not utilizing all of its potentials. The recent stock price uproar, may contribute to short-horizon losses for the private investors.

MoneyLion and Agilysys Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with MoneyLion and Agilysys

The main advantage of trading using opposite MoneyLion and Agilysys positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MoneyLion position performs unexpectedly, Agilysys 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 Agilysys will offset losses from the drop in Agilysys' long position.
The idea behind MoneyLion and Agilysys 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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.

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