Correlation Between Actblue and QuantumScape

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

Diversification Opportunities for Actblue and QuantumScape

-0.58
  Correlation Coefficient

Excellent diversification

The 3 months correlation between Actblue and QuantumScape is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Actblue Co and QuantumScape Class in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on QuantumScape Class and Actblue 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 Actblue Co are associated (or correlated) with QuantumScape. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of QuantumScape Class has no effect on the direction of Actblue i.e., Actblue and QuantumScape go up and down completely randomly.

Pair Corralation between Actblue and QuantumScape

Assuming the 90 days trading horizon Actblue Co is expected to generate 0.55 times more return on investment than QuantumScape. However, Actblue Co is 1.82 times less risky than QuantumScape. It trades about 0.15 of its potential returns per unit of risk. QuantumScape Class is currently generating about -0.07 per unit of risk. If you would invest  3,708  in Actblue Co on October 6, 2025 and sell it today you would earn a total of  1,107  from holding Actblue Co or generate 29.85% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthVery Weak
Accuracy96.83%
ValuesDaily Returns

Actblue Co  vs.  QuantumScape Class

 Performance 
       Timeline  
Actblue 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Actblue Co are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, Actblue sustained solid returns over the last few months and may actually be approaching a breakup point.
QuantumScape Class 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days QuantumScape Class has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in February 2026. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Actblue and QuantumScape Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Actblue and QuantumScape

The main advantage of trading using opposite Actblue and QuantumScape positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Actblue position performs unexpectedly, QuantumScape 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 QuantumScape will offset losses from the drop in QuantumScape's long position.
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The idea behind Actblue Co and QuantumScape Class 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.
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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 Money Managers module to screen money managers from public funds and ETFs managed around the world.

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