Correlation Between Aurora Mobile and IBEX
Can any of the company-specific risk be diversified away by investing in both Aurora Mobile and IBEX 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 Aurora Mobile and IBEX into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aurora Mobile and IBEX, you can compare the effects of market volatilities on Aurora Mobile and IBEX 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 Aurora Mobile with a short position of IBEX. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aurora Mobile and IBEX.
Diversification Opportunities for Aurora Mobile and IBEX
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Aurora and IBEX is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Aurora Mobile and IBEX in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IBEX and Aurora Mobile 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 Aurora Mobile are associated (or correlated) with IBEX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IBEX has no effect on the direction of Aurora Mobile i.e., Aurora Mobile and IBEX go up and down completely randomly.
Pair Corralation between Aurora Mobile and IBEX
Allowing for the 90-day total investment horizon Aurora Mobile is expected to under-perform the IBEX. But the stock apears to be less risky and, when comparing its historical volatility, Aurora Mobile is 1.55 times less risky than IBEX. The stock trades about -0.15 of its potential returns per unit of risk. The IBEX is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 2,798 in IBEX on August 7, 2025 and sell it today you would earn a total of 849.00 from holding IBEX or generate 30.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Aurora Mobile vs. IBEX
Performance |
| Timeline |
| Aurora Mobile |
| IBEX |
Aurora Mobile and IBEX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aurora Mobile and IBEX
The main advantage of trading using opposite Aurora Mobile and IBEX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aurora Mobile position performs unexpectedly, IBEX 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 IBEX will offset losses from the drop in IBEX's long position.| Aurora Mobile vs. Cerberus Cyber Sentinel | Aurora Mobile vs. Intellinetics | Aurora Mobile vs. Arbe Robotics | Aurora Mobile vs. Mogo Inc |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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