Correlation Between Fluence Energy and One Choice
Can any of the company-specific risk be diversified away by investing in both Fluence Energy and One Choice 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 Fluence Energy and One Choice into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fluence Energy and One Choice In, you can compare the effects of market volatilities on Fluence Energy and One Choice 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 Fluence Energy with a short position of One Choice. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fluence Energy and One Choice.
Diversification Opportunities for Fluence Energy and One Choice
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Fluence and One is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Fluence Energy and One Choice In in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on One Choice In and Fluence Energy 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 Fluence Energy are associated (or correlated) with One Choice. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of One Choice In has no effect on the direction of Fluence Energy i.e., Fluence Energy and One Choice go up and down completely randomly.
Pair Corralation between Fluence Energy and One Choice
Given the investment horizon of 90 days Fluence Energy is expected to generate 18.62 times more return on investment than One Choice. However, Fluence Energy is 18.62 times more volatile than One Choice In. It trades about 0.16 of its potential returns per unit of risk. One Choice In is currently generating about 0.23 per unit of risk. If you would invest 476.00 in Fluence Energy on June 9, 2025 and sell it today you would earn a total of 279.00 from holding Fluence Energy or generate 58.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fluence Energy vs. One Choice In
Performance |
| Timeline |
| Fluence Energy |
| One Choice In |
Fluence Energy and One Choice Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fluence Energy and One Choice
The main advantage of trading using opposite Fluence Energy and One Choice positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fluence Energy position performs unexpectedly, One Choice 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 One Choice will offset losses from the drop in One Choice's long position.| Fluence Energy vs. Enlight Renewable Energy | Fluence Energy vs. Renew Energy Global | Fluence Energy vs. Advent Technologies Holdings | Fluence Energy vs. Energy Vault Holdings |
| One Choice vs. One Choice 2025 | One Choice vs. One Choice 2035 | One Choice vs. One Choice 2045 | One Choice vs. One Choice Portfolio |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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