Correlation Between EPlus and Rumble
Can any of the company-specific risk be diversified away by investing in both EPlus and Rumble 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 EPlus and Rumble into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ePlus inc and Rumble Inc, you can compare the effects of market volatilities on EPlus and Rumble 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 EPlus with a short position of Rumble. Check out your portfolio center. Please also check ongoing floating volatility patterns of EPlus and Rumble.
Diversification Opportunities for EPlus and Rumble
Excellent diversification
The 3 months correlation between EPlus and Rumble is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding ePlus inc and Rumble Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Rumble Inc and EPlus 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 ePlus inc are associated (or correlated) with Rumble. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Rumble Inc has no effect on the direction of EPlus i.e., EPlus and Rumble go up and down completely randomly.
Pair Corralation between EPlus and Rumble
Given the investment horizon of 90 days ePlus inc is expected to generate 0.54 times more return on investment than Rumble. However, ePlus inc is 1.85 times less risky than Rumble. It trades about 0.14 of its potential returns per unit of risk. Rumble Inc is currently generating about 0.05 per unit of risk. If you would invest 7,067 in ePlus inc on September 5, 2025 and sell it today you would earn a total of 1,592 from holding ePlus inc or generate 22.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ePlus inc vs. Rumble Inc
Performance |
| Timeline |
| ePlus inc |
| Rumble Inc |
EPlus and Rumble Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EPlus and Rumble
The main advantage of trading using opposite EPlus and Rumble positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EPlus position performs unexpectedly, Rumble 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 Rumble will offset losses from the drop in Rumble's long position.| EPlus vs. Electreon Wireless | EPlus vs. Sinclair Broadcast Group | EPlus vs. Franklin Wireless Corp | EPlus vs. Knight Transportation |
| Rumble vs. White Mountains Insurance | Rumble vs. Net Lease Office | Rumble vs. The Peoples Insurance | Rumble vs. Brookfield Office Properties |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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