Correlation Between Mogo and Firan Technology
Can any of the company-specific risk be diversified away by investing in both Mogo and Firan Technology 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 Mogo and Firan Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mogo Inc and Firan Technology Group, you can compare the effects of market volatilities on Mogo and Firan Technology 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 Mogo with a short position of Firan Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mogo and Firan Technology.
Diversification Opportunities for Mogo and Firan Technology
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Mogo and Firan is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding Mogo Inc and Firan Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Firan Technology and Mogo 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 Mogo Inc are associated (or correlated) with Firan Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Firan Technology has no effect on the direction of Mogo i.e., Mogo and Firan Technology go up and down completely randomly.
Pair Corralation between Mogo and Firan Technology
Assuming the 90 days trading horizon Mogo Inc is expected to under-perform the Firan Technology. In addition to that, Mogo is 1.67 times more volatile than Firan Technology Group. It trades about -0.29 of its total potential returns per unit of risk. Firan Technology Group is currently generating about 0.05 per unit of volatility. If you would invest 1,110 in Firan Technology Group on September 3, 2025 and sell it today you would earn a total of 18.00 from holding Firan Technology Group or generate 1.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Mogo Inc vs. Firan Technology Group
Performance |
| Timeline |
| Mogo Inc |
| Firan Technology |
Mogo and Firan Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mogo and Firan Technology
The main advantage of trading using opposite Mogo and Firan Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mogo position performs unexpectedly, Firan Technology 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 Firan Technology will offset losses from the drop in Firan Technology's long position.| Mogo vs. Quipt Home Medical | Mogo vs. Verizon Communications CDR | Mogo vs. Canlan Ice Sports | Mogo vs. Cogeco Communications |
| Firan Technology vs. BLUERUSH Media Group | Firan Technology vs. Air Canada | Firan Technology vs. Dominion Lending Centres | Firan Technology vs. Royal Bank of |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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