Correlation Between KULR Technology and Expensify
Can any of the company-specific risk be diversified away by investing in both KULR Technology and Expensify 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 KULR Technology and Expensify into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KULR Technology Group and Expensify, you can compare the effects of market volatilities on KULR Technology and Expensify 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 KULR Technology with a short position of Expensify. Check out your portfolio center. Please also check ongoing floating volatility patterns of KULR Technology and Expensify.
Diversification Opportunities for KULR Technology and Expensify
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between KULR and Expensify is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding KULR Technology Group and Expensify in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Expensify and KULR Technology 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 KULR Technology Group are associated (or correlated) with Expensify. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Expensify has no effect on the direction of KULR Technology i.e., KULR Technology and Expensify go up and down completely randomly.
Pair Corralation between KULR Technology and Expensify
Given the investment horizon of 90 days KULR Technology Group is expected to under-perform the Expensify. In addition to that, KULR Technology is 2.0 times more volatile than Expensify. It trades about -0.06 of its total potential returns per unit of risk. Expensify is currently generating about -0.08 per unit of volatility. If you would invest 173.00 in Expensify on October 9, 2025 and sell it today you would lose (31.00) from holding Expensify or give up 17.92% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
KULR Technology Group vs. Expensify
Performance |
| Timeline |
| KULR Technology Group |
| Expensify |
KULR Technology and Expensify Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KULR Technology and Expensify
The main advantage of trading using opposite KULR Technology and Expensify positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KULR Technology position performs unexpectedly, Expensify 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 Expensify will offset losses from the drop in Expensify's long position.| KULR Technology vs. Wrap Technologies | KULR Technology vs. Satellogic V | KULR Technology vs. TROOPS Inc | KULR Technology vs. Richardson Electronics |
| Expensify vs. TROOPS Inc | Expensify vs. Teads BV | Expensify vs. Health In Tech | Expensify vs. X3 Holdings Co |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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