Correlation Between AXISILVER and ABM International

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Can any of the company-specific risk be diversified away by investing in both AXISILVER and ABM 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 AXISILVER and ABM International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AXISILVER and ABM International Limited, you can compare the effects of market volatilities on AXISILVER and ABM 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 AXISILVER with a short position of ABM International. Check out your portfolio center. Please also check ongoing floating volatility patterns of AXISILVER and ABM International.

Diversification Opportunities for AXISILVER and ABM International

-0.27
  Correlation Coefficient

Very good diversification

The 3 months correlation between AXISILVER and ABM is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding AXISILVER and ABM International Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ABM International and AXISILVER 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 AXISILVER are associated (or correlated) with ABM International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ABM International has no effect on the direction of AXISILVER i.e., AXISILVER and ABM International go up and down completely randomly.

Pair Corralation between AXISILVER and ABM International

Assuming the 90 days trading horizon AXISILVER is expected to generate 0.71 times more return on investment than ABM International. However, AXISILVER is 1.42 times less risky than ABM International. It trades about 0.27 of its potential returns per unit of risk. ABM International Limited is currently generating about -0.08 per unit of risk. If you would invest  11,355  in AXISILVER on July 19, 2025 and sell it today you would earn a total of  5,412  from holding AXISILVER or generate 47.66% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

AXISILVER  vs.  ABM International Limited

 Performance 
       Timeline  
AXISILVER 

Risk-Adjusted Performance

Solid

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in AXISILVER are ranked lower than 21 (%) of all global equities and portfolios over the last 90 days. In spite of fairly uncertain basic indicators, AXISILVER showed solid returns over the last few months and may actually be approaching a breakup point.
ABM International 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days ABM International Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Despite uncertain performance in the last few months, the Stock's essential indicators remain quite persistent which may send shares a bit higher in November 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

AXISILVER and ABM International Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with AXISILVER and ABM International

The main advantage of trading using opposite AXISILVER and ABM International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AXISILVER position performs unexpectedly, ABM 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 ABM International will offset losses from the drop in ABM International's long position.
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The idea behind AXISILVER and ABM International Limited pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..

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