Correlation Between Global X and Amplify Video
Can any of the company-specific risk be diversified away by investing in both Global X and Amplify Video 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 Global X and Amplify Video into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Global X Funds and Amplify Video Game, you can compare the effects of market volatilities on Global X and Amplify Video 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 Global X with a short position of Amplify Video. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global X and Amplify Video.
Diversification Opportunities for Global X and Amplify Video
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Global and Amplify is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Global X Funds and Amplify Video Game in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplify Video Game and Global X 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 Global X Funds are associated (or correlated) with Amplify Video. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplify Video Game has no effect on the direction of Global X i.e., Global X and Amplify Video go up and down completely randomly.
Pair Corralation between Global X and Amplify Video
Considering the 90-day investment horizon Global X is expected to generate 2.48 times less return on investment than Amplify Video. But when comparing it to its historical volatility, Global X Funds is 1.41 times less risky than Amplify Video. It trades about 0.1 of its potential returns per unit of risk. Amplify Video Game is currently generating about 0.18 of returns per unit of risk over similar time horizon. If you would invest 8,013 in Amplify Video Game on June 8, 2025 and sell it today you would earn a total of 1,087 from holding Amplify Video Game or generate 13.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Global X Funds vs. Amplify Video Game
Performance |
| Timeline |
| Global X Funds |
| Amplify Video Game |
Global X and Amplify Video Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Global X and Amplify Video
The main advantage of trading using opposite Global X and Amplify Video positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global X position performs unexpectedly, Amplify Video 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 Amplify Video will offset losses from the drop in Amplify Video's long position.| Global X vs. iShares MSCI Poland | Global X vs. iShares MSCI Philippines | Global X vs. ABIVAX Socit Anonyme | Global X vs. Thrivent High Yield |
| Amplify Video vs. VanEck Video Gaming | Amplify Video vs. Roundhill Video Games | Amplify Video vs. Global X Social | Amplify Video vs. Amplify Digital Payments |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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