Correlation Between Exodus Movement, and Xunlei
Can any of the company-specific risk be diversified away by investing in both Exodus Movement, and Xunlei 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 Exodus Movement, and Xunlei into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Exodus Movement, and Xunlei Ltd Adr, you can compare the effects of market volatilities on Exodus Movement, and Xunlei 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 Exodus Movement, with a short position of Xunlei. Check out your portfolio center. Please also check ongoing floating volatility patterns of Exodus Movement, and Xunlei.
Diversification Opportunities for Exodus Movement, and Xunlei
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Exodus and Xunlei is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Exodus Movement, and Xunlei Ltd Adr in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xunlei Ltd Adr and Exodus Movement, 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 Exodus Movement, are associated (or correlated) with Xunlei. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xunlei Ltd Adr has no effect on the direction of Exodus Movement, i.e., Exodus Movement, and Xunlei go up and down completely randomly.
Pair Corralation between Exodus Movement, and Xunlei
Given the investment horizon of 90 days Exodus Movement, is expected to generate 3.9 times more return on investment than Xunlei. However, Exodus Movement, is 3.9 times more volatile than Xunlei Ltd Adr. It trades about 0.09 of its potential returns per unit of risk. Xunlei Ltd Adr is currently generating about 0.06 per unit of risk. If you would invest 302.00 in Exodus Movement, on March 24, 2025 and sell it today you would earn a total of 2,862 from holding Exodus Movement, or generate 947.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Exodus Movement, vs. Xunlei Ltd Adr
Performance |
| Timeline |
| Exodus Movement, |
| Xunlei Ltd Adr |
Exodus Movement, and Xunlei Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Exodus Movement, and Xunlei
The main advantage of trading using opposite Exodus Movement, and Xunlei positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Exodus Movement, position performs unexpectedly, Xunlei 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 Xunlei will offset losses from the drop in Xunlei's long position.| Exodus Movement, vs. Asure Software | Exodus Movement, vs. Radcom | Exodus Movement, vs. Diageo PLC ADR | Exodus Movement, vs. High Performance Beverages |
| Xunlei vs. Travelzoo | Xunlei vs. Emerald Expositions Events | Xunlei vs. Ziff Davis | Xunlei vs. Direct Digital Holdings |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon |