Correlation Between Fluent and Imax Corp
Can any of the company-specific risk be diversified away by investing in both Fluent and Imax Corp 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 Fluent and Imax Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fluent Inc and Imax Corp, you can compare the effects of market volatilities on Fluent and Imax Corp 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 Fluent with a short position of Imax Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fluent and Imax Corp.
Diversification Opportunities for Fluent and Imax Corp
Very good diversification
The 3 months correlation between Fluent and Imax is -0.27. Overlapping area represents the amount of risk that can be diversified away by holding Fluent Inc and Imax Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Imax Corp and Fluent 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 Fluent Inc are associated (or correlated) with Imax Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Imax Corp has no effect on the direction of Fluent i.e., Fluent and Imax Corp go up and down completely randomly.
Pair Corralation between Fluent and Imax Corp
Given the investment horizon of 90 days Fluent Inc is expected to generate 3.07 times more return on investment than Imax Corp. However, Fluent is 3.07 times more volatile than Imax Corp. It trades about 0.07 of its potential returns per unit of risk. Imax Corp is currently generating about 0.09 per unit of risk. If you would invest 190.00 in Fluent Inc on June 7, 2025 and sell it today you would earn a total of 29.00 from holding Fluent Inc or generate 15.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fluent Inc vs. Imax Corp
Performance |
| Timeline |
| Fluent Inc |
| Imax Corp |
Fluent and Imax Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fluent and Imax Corp
The main advantage of trading using opposite Fluent and Imax Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fluent position performs unexpectedly, Imax Corp 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 Imax Corp will offset losses from the drop in Imax Corp's long position.| Fluent vs. Advantage Solutions | Fluent vs. Townsquare Media | Fluent vs. Entravision Communications | Fluent vs. FlexShopper |
| Imax Corp vs. Cinemark Holdings | Imax Corp vs. News Corp A | Imax Corp vs. Marcus | Imax Corp vs. Liberty Media |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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