Correlation Between EMX Royalty and Alkami Technology
Can any of the company-specific risk be diversified away by investing in both EMX Royalty and Alkami Technology 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 EMX Royalty and Alkami Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EMX Royalty Corp and Alkami Technology, you can compare the effects of market volatilities on EMX Royalty and Alkami Technology 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 EMX Royalty with a short position of Alkami Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of EMX Royalty and Alkami Technology.
Diversification Opportunities for EMX Royalty and Alkami Technology
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between EMX and Alkami is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding EMX Royalty Corp and Alkami Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Alkami Technology and EMX Royalty 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 EMX Royalty Corp are associated (or correlated) with Alkami Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Alkami Technology has no effect on the direction of EMX Royalty i.e., EMX Royalty and Alkami Technology go up and down completely randomly.
Pair Corralation between EMX Royalty and Alkami Technology
Considering the 90-day investment horizon EMX Royalty Corp is expected to generate 1.55 times more return on investment than Alkami Technology. However, EMX Royalty is 1.55 times more volatile than Alkami Technology. It trades about 0.02 of its potential returns per unit of risk. Alkami Technology is currently generating about -0.11 per unit of risk. If you would invest 411.00 in EMX Royalty Corp on September 9, 2025 and sell it today you would earn a total of 5.00 from holding EMX Royalty Corp or generate 1.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 78.13% |
| Values | Daily Returns |
EMX Royalty Corp vs. Alkami Technology
Performance |
| Timeline |
| EMX Royalty Corp |
Risk-Adjusted Performance
Weak
Weak | Strong |
| Alkami Technology |
EMX Royalty and Alkami Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EMX Royalty and Alkami Technology
The main advantage of trading using opposite EMX Royalty and Alkami Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EMX Royalty position performs unexpectedly, Alkami Technology 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 Alkami Technology will offset losses from the drop in Alkami Technology's long position.| EMX Royalty vs. Western Copper and | EMX Royalty vs. Nouveau Monde Graphite | EMX Royalty vs. Lifezone Metals Limited | EMX Royalty vs. NioCorp Developments Ltd |
| Alkami Technology vs. WEBTOON Entertainment Common | Alkami Technology vs. Diebold Nixdorf, Incorporated | Alkami Technology vs. Sprinklr | Alkami Technology vs. ePlus inc |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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