Correlation Between AppTech Payments and Icon Information
Can any of the company-specific risk be diversified away by investing in both AppTech Payments and Icon Information 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 AppTech Payments and Icon Information into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AppTech Payments Corp and Icon Information Technology, you can compare the effects of market volatilities on AppTech Payments and Icon Information 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 AppTech Payments with a short position of Icon Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of AppTech Payments and Icon Information.
Diversification Opportunities for AppTech Payments and Icon Information
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between AppTech and Icon is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding AppTech Payments Corp and Icon Information Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Icon Information Tec and AppTech Payments 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 AppTech Payments Corp are associated (or correlated) with Icon Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Icon Information Tec has no effect on the direction of AppTech Payments i.e., AppTech Payments and Icon Information go up and down completely randomly.
Pair Corralation between AppTech Payments and Icon Information
If you would invest 1,480 in Icon Information Technology on June 10, 2025 and sell it today you would earn a total of 97.00 from holding Icon Information Technology or generate 6.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
AppTech Payments Corp vs. Icon Information Technology
Performance |
| Timeline |
| AppTech Payments Corp |
Risk-Adjusted Performance
Weakest
Weak | Strong |
| Icon Information Tec |
AppTech Payments and Icon Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AppTech Payments and Icon Information
The main advantage of trading using opposite AppTech Payments and Icon Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AppTech Payments position performs unexpectedly, Icon Information 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 Icon Information will offset losses from the drop in Icon Information's long position.| AppTech Payments vs. Palantir Technologies Class | AppTech Payments vs. Microsoft | AppTech Payments vs. American Rebel Holdings | AppTech Payments vs. NextNav Warrant |
| Icon Information vs. Prudential Short Duration | Icon Information vs. Franklin Federal Limited Term | Icon Information vs. Calvert Short Duration | Icon Information vs. American Funds Tax Exempt |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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