Correlation Between Agora and Wallbox NV
Can any of the company-specific risk be diversified away by investing in both Agora and Wallbox NV 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 Agora and Wallbox NV into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Agora Inc and Wallbox NV, you can compare the effects of market volatilities on Agora and Wallbox NV 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 Agora with a short position of Wallbox NV. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agora and Wallbox NV.
Diversification Opportunities for Agora and Wallbox NV
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Agora and Wallbox is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Agora Inc and Wallbox NV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wallbox NV and Agora 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 Agora Inc are associated (or correlated) with Wallbox NV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wallbox NV has no effect on the direction of Agora i.e., Agora and Wallbox NV go up and down completely randomly.
Pair Corralation between Agora and Wallbox NV
Considering the 90-day investment horizon Agora Inc is expected to generate 0.65 times more return on investment than Wallbox NV. However, Agora Inc is 1.55 times less risky than Wallbox NV. It trades about 0.04 of its potential returns per unit of risk. Wallbox NV is currently generating about -0.04 per unit of risk. If you would invest 340.00 in Agora Inc on August 30, 2025 and sell it today you would earn a total of 14.00 from holding Agora Inc or generate 4.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agora Inc vs. Wallbox NV
Performance |
| Timeline |
| Agora Inc |
| Wallbox NV |
Agora and Wallbox NV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agora and Wallbox NV
The main advantage of trading using opposite Agora and Wallbox NV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agora position performs unexpectedly, Wallbox NV 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 Wallbox NV will offset losses from the drop in Wallbox NV's long position.| Agora vs. ISPAF | Agora vs. Sligro Food Group | Agora vs. Where Food Comes | Agora vs. United Utilities Group |
| Wallbox NV vs. Bankwell Financial Group | Wallbox NV vs. Broadstone Net Lease | Wallbox NV vs. JB Hunt Transport | Wallbox NV vs. Nexstar Broadcasting Group |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| 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 | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |