Correlation Between CONX Corp and Global Acquisitions
Can any of the company-specific risk be diversified away by investing in both CONX Corp and Global Acquisitions 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 CONX Corp and Global Acquisitions into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CONX Corp and Global Acquisitions, you can compare the effects of market volatilities on CONX Corp and Global Acquisitions 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 CONX Corp with a short position of Global Acquisitions. Check out your portfolio center. Please also check ongoing floating volatility patterns of CONX Corp and Global Acquisitions.
Diversification Opportunities for CONX Corp and Global Acquisitions
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between CONX and Global is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding CONX Corp and Global Acquisitions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Acquisitions and CONX Corp 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 CONX Corp are associated (or correlated) with Global Acquisitions. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Acquisitions has no effect on the direction of CONX Corp i.e., CONX Corp and Global Acquisitions go up and down completely randomly.
Pair Corralation between CONX Corp and Global Acquisitions
Given the investment horizon of 90 days CONX Corp is expected to generate 3.52 times more return on investment than Global Acquisitions. However, CONX Corp is 3.52 times more volatile than Global Acquisitions. It trades about 0.09 of its potential returns per unit of risk. Global Acquisitions is currently generating about -0.04 per unit of risk. If you would invest 185.00 in CONX Corp on September 2, 2025 and sell it today you would earn a total of 47.00 from holding CONX Corp or generate 25.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CONX Corp vs. Global Acquisitions
Performance |
| Timeline |
| CONX Corp |
| Global Acquisitions |
CONX Corp and Global Acquisitions Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CONX Corp and Global Acquisitions
The main advantage of trading using opposite CONX Corp and Global Acquisitions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CONX Corp position performs unexpectedly, Global Acquisitions 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 Global Acquisitions will offset losses from the drop in Global Acquisitions' long position.| CONX Corp vs. Data3 Limited | CONX Corp vs. Teradata Corp | CONX Corp vs. Algonquin Power Utilities | CONX Corp vs. Caribbean Utilities |
| Global Acquisitions vs. Cyberfort Software | Global Acquisitions vs. SoftwareONE Holding AG | Global Acquisitions vs. 1mage Software | Global Acquisitions vs. SD Standard Drilling |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |