Correlation Between Diginex Limited and Calix
Can any of the company-specific risk be diversified away by investing in both Diginex Limited and Calix 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 Diginex Limited and Calix into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Diginex Limited Ordinary and Calix Inc, you can compare the effects of market volatilities on Diginex Limited and Calix 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 Diginex Limited with a short position of Calix. Check out your portfolio center. Please also check ongoing floating volatility patterns of Diginex Limited and Calix.
Diversification Opportunities for Diginex Limited and Calix
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Diginex and Calix is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Diginex Limited Ordinary and Calix Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Calix Inc and Diginex Limited 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 Diginex Limited Ordinary are associated (or correlated) with Calix. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Calix Inc has no effect on the direction of Diginex Limited i.e., Diginex Limited and Calix go up and down completely randomly.
Pair Corralation between Diginex Limited and Calix
Given the investment horizon of 90 days Diginex Limited Ordinary is expected to generate 5.98 times more return on investment than Calix. However, Diginex Limited is 5.98 times more volatile than Calix Inc. It trades about 0.11 of its potential returns per unit of risk. Calix Inc is currently generating about -0.03 per unit of risk. If you would invest 753.00 in Diginex Limited Ordinary on August 30, 2025 and sell it today you would earn a total of 375.50 from holding Diginex Limited Ordinary or generate 49.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Diginex Limited Ordinary vs. Calix Inc
Performance |
| Timeline |
| Diginex Limited Ordinary |
| Calix Inc |
Diginex Limited and Calix Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Diginex Limited and Calix
The main advantage of trading using opposite Diginex Limited and Calix positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Diginex Limited position performs unexpectedly, Calix 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 Calix will offset losses from the drop in Calix's long position.| Diginex Limited vs. Space Communication | Diginex Limited vs. FullNet Communications | Diginex Limited vs. Cabal Communications | Diginex Limited vs. Technology Telecommunication Acquisition |
| Calix vs. Shenzhen Investment Holdings | Calix vs. Erf Wireless | Calix vs. Brookfield Office Properties | Calix vs. BCP Investment Corp |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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