Correlation Between AGF Management and Zoom Video
Can any of the company-specific risk be diversified away by investing in both AGF Management and Zoom Video 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 AGF Management and Zoom Video into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AGF Management Limited and Zoom Video Communications, you can compare the effects of market volatilities on AGF Management and Zoom Video 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 AGF Management with a short position of Zoom Video. Check out your portfolio center. Please also check ongoing floating volatility patterns of AGF Management and Zoom Video.
Diversification Opportunities for AGF Management and Zoom Video
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between AGF and Zoom is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding AGF Management Limited and Zoom Video Communications in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zoom Video Communications and AGF Management 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 AGF Management Limited are associated (or correlated) with Zoom Video. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zoom Video Communications has no effect on the direction of AGF Management i.e., AGF Management and Zoom Video go up and down completely randomly.
Pair Corralation between AGF Management and Zoom Video
Assuming the 90 days horizon AGF Management Limited is expected to generate 1.24 times more return on investment than Zoom Video. However, AGF Management is 1.24 times more volatile than Zoom Video Communications. It trades about 0.09 of its potential returns per unit of risk. Zoom Video Communications is currently generating about 0.04 per unit of risk. If you would invest 837.00 in AGF Management Limited on September 13, 2025 and sell it today you would earn a total of 103.00 from holding AGF Management Limited or generate 12.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AGF Management Limited vs. Zoom Video Communications
Performance |
| Timeline |
| AGF Management |
| Zoom Video Communications |
AGF Management and Zoom Video Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AGF Management and Zoom Video
The main advantage of trading using opposite AGF Management and Zoom Video positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AGF Management position performs unexpectedly, Zoom Video 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 Zoom Video will offset losses from the drop in Zoom Video's long position.| AGF Management vs. ANTA Sports Products | AGF Management vs. BII Railway Transportation | AGF Management vs. USWE SPORTS AB | AGF Management vs. Citic Telecom International |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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