Correlation Between Franklin Wireless and Moving IMage
Can any of the company-specific risk be diversified away by investing in both Franklin Wireless and Moving IMage 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 Franklin Wireless and Moving IMage into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Franklin Wireless Corp and Moving iMage Technologies, you can compare the effects of market volatilities on Franklin Wireless and Moving IMage 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 Franklin Wireless with a short position of Moving IMage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Wireless and Moving IMage.
Diversification Opportunities for Franklin Wireless and Moving IMage
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Franklin and Moving is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Wireless Corp and Moving iMage Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moving iMage Technologies and Franklin Wireless 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 Franklin Wireless Corp are associated (or correlated) with Moving IMage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moving iMage Technologies has no effect on the direction of Franklin Wireless i.e., Franklin Wireless and Moving IMage go up and down completely randomly.
Pair Corralation between Franklin Wireless and Moving IMage
Given the investment horizon of 90 days Franklin Wireless is expected to generate 3.12 times less return on investment than Moving IMage. But when comparing it to its historical volatility, Franklin Wireless Corp is 1.5 times less risky than Moving IMage. It trades about 0.15 of its potential returns per unit of risk. Moving iMage Technologies is currently generating about 0.31 of returns per unit of risk over similar time horizon. If you would invest 73.00 in Moving iMage Technologies on June 11, 2025 and sell it today you would earn a total of 21.00 from holding Moving iMage Technologies or generate 28.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Franklin Wireless Corp vs. Moving iMage Technologies
Performance |
| Timeline |
| Franklin Wireless Corp |
| Moving iMage Technologies |
Franklin Wireless and Moving IMage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Wireless and Moving IMage
The main advantage of trading using opposite Franklin Wireless and Moving IMage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Wireless position performs unexpectedly, Moving IMage 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 Moving IMage will offset losses from the drop in Moving IMage's long position.| Franklin Wireless vs. BeWhere Holdings | Franklin Wireless vs. Collplant Biotechnologies | Franklin Wireless vs. Crexendo | Franklin Wireless vs. Electronic Systems Technology |
| Moving IMage vs. Electronic Systems Technology | Moving IMage vs. Sonim Technologies | Moving IMage vs. Franklin Wireless Corp | Moving IMage vs. Wialan Technologies |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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