Correlation Between Il2m International and 00108WAF7

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Can any of the company-specific risk be diversified away by investing in both Il2m International and 00108WAF7 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 Il2m International and 00108WAF7 into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Il2m International Corp and AEP TEX INC, you can compare the effects of market volatilities on Il2m International and 00108WAF7 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 Il2m International with a short position of 00108WAF7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Il2m International and 00108WAF7.

Diversification Opportunities for Il2m International and 00108WAF7

-0.03
  Correlation Coefficient

Good diversification

The 3 months correlation between Il2m and 00108WAF7 is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Il2m International Corp and AEP TEX INC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEP TEX INC and Il2m International 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 Il2m International Corp are associated (or correlated) with 00108WAF7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEP TEX INC has no effect on the direction of Il2m International i.e., Il2m International and 00108WAF7 go up and down completely randomly.

Pair Corralation between Il2m International and 00108WAF7

Given the investment horizon of 90 days Il2m International Corp is expected to generate 7.86 times more return on investment than 00108WAF7. However, Il2m International is 7.86 times more volatile than AEP TEX INC. It trades about 0.09 of its potential returns per unit of risk. AEP TEX INC is currently generating about 0.0 per unit of risk. If you would invest  0.03  in Il2m International Corp on September 11, 2025 and sell it today you would earn a total of  0.01  from holding Il2m International Corp or generate 33.33% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy50.79%
ValuesDaily Returns

Il2m International Corp  vs.  AEP TEX INC

 Performance 
       Timeline  
Il2m International Corp 

Risk-Adjusted Performance

Mild

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Il2m International Corp are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. In spite of very unsteady forward indicators, Il2m International displayed solid returns over the last few months and may actually be approaching a breakup point.
AEP TEX INC 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days AEP TEX INC has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, 00108WAF7 is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Il2m International and 00108WAF7 Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Il2m International and 00108WAF7

The main advantage of trading using opposite Il2m International and 00108WAF7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Il2m International position performs unexpectedly, 00108WAF7 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 00108WAF7 will offset losses from the drop in 00108WAF7's long position.
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The idea behind Il2m International Corp and AEP TEX INC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.

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