Correlation Between AppTech Payments and VivoPower International
Can any of the company-specific risk be diversified away by investing in both AppTech Payments and VivoPower International 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 VivoPower International 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 VivoPower International PLC, you can compare the effects of market volatilities on AppTech Payments and VivoPower International 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 VivoPower International. Check out your portfolio center. Please also check ongoing floating volatility patterns of AppTech Payments and VivoPower International.
Diversification Opportunities for AppTech Payments and VivoPower International
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AppTech and VivoPower is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding AppTech Payments Corp and VivoPower International PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VivoPower International 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 VivoPower International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VivoPower International has no effect on the direction of AppTech Payments i.e., AppTech Payments and VivoPower International go up and down completely randomly.
Pair Corralation between AppTech Payments and VivoPower International
Assuming the 90 days horizon AppTech Payments Corp is expected to under-perform the VivoPower International. In addition to that, AppTech Payments is 1.93 times more volatile than VivoPower International PLC. It trades about -0.09 of its total potential returns per unit of risk. VivoPower International PLC is currently generating about 0.03 per unit of volatility. If you would invest 400.00 in VivoPower International PLC on March 30, 2025 and sell it today you would lose (41.00) from holding VivoPower International PLC or give up 10.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 47.62% |
| Values | Daily Returns |
AppTech Payments Corp vs. VivoPower International PLC
Performance |
| Timeline |
| AppTech Payments Corp |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| VivoPower International |
AppTech Payments and VivoPower International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AppTech Payments and VivoPower International
The main advantage of trading using opposite AppTech Payments and VivoPower International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AppTech Payments position performs unexpectedly, VivoPower International 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 VivoPower International will offset losses from the drop in VivoPower International's long position.| AppTech Payments vs. American Rebel Holdings | AppTech Payments vs. bioAffinity Technologies Warrant | AppTech Payments vs. NextNav Warrant | AppTech Payments vs. Guardforce AI Co |
| VivoPower International vs. Emeren Group | VivoPower International vs. Tigo Energy | VivoPower International vs. Complete Solaria, | VivoPower International vs. Sunrun Inc |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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