Correlation Between Currenc Group and Open Lending
Can any of the company-specific risk be diversified away by investing in both Currenc Group and Open Lending 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 Currenc Group and Open Lending into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Currenc Group Ordinary and Open Lending Corp, you can compare the effects of market volatilities on Currenc Group and Open Lending 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 Currenc Group with a short position of Open Lending. Check out your portfolio center. Please also check ongoing floating volatility patterns of Currenc Group and Open Lending.
Diversification Opportunities for Currenc Group and Open Lending
-0.71 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Currenc and Open is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Currenc Group Ordinary and Open Lending Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Open Lending Corp and Currenc Group 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 Currenc Group Ordinary are associated (or correlated) with Open Lending. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Open Lending Corp has no effect on the direction of Currenc Group i.e., Currenc Group and Open Lending go up and down completely randomly.
Pair Corralation between Currenc Group and Open Lending
Given the investment horizon of 90 days Currenc Group Ordinary is expected to generate 2.19 times more return on investment than Open Lending. However, Currenc Group is 2.19 times more volatile than Open Lending Corp. It trades about 0.17 of its potential returns per unit of risk. Open Lending Corp is currently generating about -0.08 per unit of risk. If you would invest 171.00 in Currenc Group Ordinary on August 14, 2025 and sell it today you would earn a total of 167.00 from holding Currenc Group Ordinary or generate 97.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Currenc Group Ordinary vs. Open Lending Corp
Performance |
| Timeline |
| Currenc Group Ordinary |
| Open Lending Corp |
Currenc Group and Open Lending Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Currenc Group and Open Lending
The main advantage of trading using opposite Currenc Group and Open Lending positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Currenc Group position performs unexpectedly, Open Lending 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 Open Lending will offset losses from the drop in Open Lending's long position.| Currenc Group vs. Consumer Portfolio Services | Currenc Group vs. Open Lending Corp | Currenc Group vs. CPI Card Group | Currenc Group vs. Streamex Corp |
| Open Lending vs. Medallion Financial Corp | Open Lending vs. CPI Card Group | Open Lending vs. Finance of America | Open Lending vs. Yirendai |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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