Correlation Between Aurora Mobile and Phunware
Can any of the company-specific risk be diversified away by investing in both Aurora Mobile and Phunware 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 Phunware into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Aurora Mobile and Phunware, you can compare the effects of market volatilities on Aurora Mobile and Phunware 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 Phunware. Check out your portfolio center. Please also check ongoing floating volatility patterns of Aurora Mobile and Phunware.
Diversification Opportunities for Aurora Mobile and Phunware
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Aurora and Phunware is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Aurora Mobile and Phunware in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Phunware 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 Phunware. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Phunware has no effect on the direction of Aurora Mobile i.e., Aurora Mobile and Phunware go up and down completely randomly.
Pair Corralation between Aurora Mobile and Phunware
Allowing for the 90-day total investment horizon Aurora Mobile is expected to generate 0.9 times more return on investment than Phunware. However, Aurora Mobile is 1.11 times less risky than Phunware. It trades about -0.15 of its potential returns per unit of risk. Phunware is currently generating about -0.16 per unit of risk. If you would invest 852.00 in Aurora Mobile on October 7, 2025 and sell it today you would lose (227.00) from holding Aurora Mobile or give up 26.64% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.41% |
| Values | Daily Returns |
Aurora Mobile vs. Phunware
Performance |
| Timeline |
| Aurora Mobile |
| Phunware |
Aurora Mobile and Phunware Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Aurora Mobile and Phunware
The main advantage of trading using opposite Aurora Mobile and Phunware positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Aurora Mobile position performs unexpectedly, Phunware 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 Phunware will offset losses from the drop in Phunware's long position.| Aurora Mobile vs. Wellchange Holdings | Aurora Mobile vs. Ryde Group | Aurora Mobile vs. Society Pass | Aurora Mobile vs. Smith Micro Software |
| Phunware vs. KNOREX LTD | Phunware vs. Blackboxstocks | Phunware vs. Surgepays | Phunware vs. YXTCOM GROUP HOLDING |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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