Correlation Between LivePerson and AudioCodes
Can any of the company-specific risk be diversified away by investing in both LivePerson and AudioCodes 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 LivePerson and AudioCodes into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LivePerson and AudioCodes, you can compare the effects of market volatilities on LivePerson and AudioCodes 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 LivePerson with a short position of AudioCodes. Check out your portfolio center. Please also check ongoing floating volatility patterns of LivePerson and AudioCodes.
Diversification Opportunities for LivePerson and AudioCodes
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between LivePerson and AudioCodes is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding LivePerson and AudioCodes in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AudioCodes and LivePerson 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 LivePerson are associated (or correlated) with AudioCodes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AudioCodes has no effect on the direction of LivePerson i.e., LivePerson and AudioCodes go up and down completely randomly.
Pair Corralation between LivePerson and AudioCodes
Given the investment horizon of 90 days LivePerson is expected to under-perform the AudioCodes. In addition to that, LivePerson is 4.16 times more volatile than AudioCodes. It trades about -0.13 of its total potential returns per unit of risk. AudioCodes is currently generating about -0.09 per unit of volatility. If you would invest 1,029 in AudioCodes on July 28, 2025 and sell it today you would lose (124.00) from holding AudioCodes or give up 12.05% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
LivePerson vs. AudioCodes
Performance |
| Timeline |
| LivePerson |
| AudioCodes |
LivePerson and AudioCodes Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LivePerson and AudioCodes
The main advantage of trading using opposite LivePerson and AudioCodes positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LivePerson position performs unexpectedly, AudioCodes 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 AudioCodes will offset losses from the drop in AudioCodes' long position.| LivePerson vs. Cyngn Inc | LivePerson vs. Marketwise | LivePerson vs. Webus International Limited | LivePerson vs. Swvl Holdings Corp |
| AudioCodes vs. BK Technologies | AudioCodes vs. Aviat Networks | AudioCodes vs. Ceragon Networks | AudioCodes vs. Turtle Beach |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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