Correlation Between Abacus Mining and Kuniko
Can any of the company-specific risk be diversified away by investing in both Abacus Mining and Kuniko 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 Abacus Mining and Kuniko into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Abacus Mining and and Kuniko, you can compare the effects of market volatilities on Abacus Mining and Kuniko 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 Abacus Mining with a short position of Kuniko. Check out your portfolio center. Please also check ongoing floating volatility patterns of Abacus Mining and Kuniko.
Diversification Opportunities for Abacus Mining and Kuniko
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Abacus and Kuniko is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Abacus Mining and and Kuniko in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuniko and Abacus Mining 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 Abacus Mining and are associated (or correlated) with Kuniko. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuniko has no effect on the direction of Abacus Mining i.e., Abacus Mining and Kuniko go up and down completely randomly.
Pair Corralation between Abacus Mining and Kuniko
Assuming the 90 days horizon Abacus Mining and is expected to generate 6.41 times more return on investment than Kuniko. However, Abacus Mining is 6.41 times more volatile than Kuniko. It trades about 0.11 of its potential returns per unit of risk. Kuniko is currently generating about -0.04 per unit of risk. If you would invest 2.00 in Abacus Mining and on September 12, 2025 and sell it today you would earn a total of 0.50 from holding Abacus Mining and or generate 25.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.46% |
| Values | Daily Returns |
Abacus Mining and vs. Kuniko
Performance |
| Timeline |
| Abacus Mining |
| Kuniko |
Abacus Mining and Kuniko Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Abacus Mining and Kuniko
The main advantage of trading using opposite Abacus Mining and Kuniko positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Abacus Mining position performs unexpectedly, Kuniko 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 Kuniko will offset losses from the drop in Kuniko's long position.| Abacus Mining vs. Vendetta Mining Corp | Abacus Mining vs. Silver Spruce Resources | Abacus Mining vs. Ultra Resources Corp | Abacus Mining vs. Nobel29 Resources Corp |
| Kuniko vs. Mirrabooka Investments | Kuniko vs. Pinnacle Investment Management | Kuniko vs. Technology One | Kuniko vs. Flagship Investments |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Other Complementary Tools
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |