Correlation Between Abrdn Emerging and Akso Health
Can any of the company-specific risk be diversified away by investing in both Abrdn Emerging and Akso Health 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 Abrdn Emerging and Akso Health into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Abrdn Emerging Markets and Akso Health Group, you can compare the effects of market volatilities on Abrdn Emerging and Akso Health 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 Abrdn Emerging with a short position of Akso Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Abrdn Emerging and Akso Health.
Diversification Opportunities for Abrdn Emerging and Akso Health
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Abrdn and Akso is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Abrdn Emerging Markets and Akso Health Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Akso Health Group and Abrdn Emerging 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 Abrdn Emerging Markets are associated (or correlated) with Akso Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Akso Health Group has no effect on the direction of Abrdn Emerging i.e., Abrdn Emerging and Akso Health go up and down completely randomly.
Pair Corralation between Abrdn Emerging and Akso Health
Considering the 90-day investment horizon Abrdn Emerging is expected to generate 7.28 times less return on investment than Akso Health. But when comparing it to its historical volatility, Abrdn Emerging Markets is 6.11 times less risky than Akso Health. It trades about 0.12 of its potential returns per unit of risk. Akso Health Group is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 129.00 in Akso Health Group on June 8, 2025 and sell it today you would earn a total of 44.00 from holding Akso Health Group or generate 34.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Abrdn Emerging Markets vs. Akso Health Group
Performance |
| Timeline |
| Abrdn Emerging Markets |
| Akso Health Group |
Abrdn Emerging and Akso Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Abrdn Emerging and Akso Health
The main advantage of trading using opposite Abrdn Emerging and Akso Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Abrdn Emerging position performs unexpectedly, Akso Health 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 Akso Health will offset losses from the drop in Akso Health's long position.| Abrdn Emerging vs. Brookfield Business Corp | Abrdn Emerging vs. Elysee Development Corp | Abrdn Emerging vs. DWS Municipal Income | Abrdn Emerging vs. Blackrock Munivest |
| Akso Health vs. Nexgel Inc | Akso Health vs. Predictive Oncology | Akso Health vs. Pro Dex | Akso Health vs. Aclarion |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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