Correlation Between Sobr Safe and AERWINS Technologies
Can any of the company-specific risk be diversified away by investing in both Sobr Safe and AERWINS Technologies 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 Sobr Safe and AERWINS Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sobr Safe and AERWINS Technologies, you can compare the effects of market volatilities on Sobr Safe and AERWINS Technologies 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 Sobr Safe with a short position of AERWINS Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sobr Safe and AERWINS Technologies.
Diversification Opportunities for Sobr Safe and AERWINS Technologies
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Sobr and AERWINS is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Sobr Safe and AERWINS Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AERWINS Technologies and Sobr Safe 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 Sobr Safe are associated (or correlated) with AERWINS Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AERWINS Technologies has no effect on the direction of Sobr Safe i.e., Sobr Safe and AERWINS Technologies go up and down completely randomly.
Pair Corralation between Sobr Safe and AERWINS Technologies
Given the investment horizon of 90 days Sobr Safe is expected to under-perform the AERWINS Technologies. But the stock apears to be less risky and, when comparing its historical volatility, Sobr Safe is 12.93 times less risky than AERWINS Technologies. The stock trades about -0.02 of its potential returns per unit of risk. The AERWINS Technologies is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 0.02 in AERWINS Technologies on July 17, 2025 and sell it today you would earn a total of 0.00 from holding AERWINS Technologies or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.46% |
| Values | Daily Returns |
Sobr Safe vs. AERWINS Technologies
Performance |
| Timeline |
| Sobr Safe |
| AERWINS Technologies |
Sobr Safe and AERWINS Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sobr Safe and AERWINS Technologies
The main advantage of trading using opposite Sobr Safe and AERWINS Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sobr Safe position performs unexpectedly, AERWINS Technologies 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 AERWINS Technologies will offset losses from the drop in AERWINS Technologies' long position.| Sobr Safe vs. AERWINS Technologies | Sobr Safe vs. bioAffinity Technologies, | Sobr Safe vs. Blacksky Technology | Sobr Safe vs. Intelligent Living Application |
| AERWINS Technologies vs. Bridger Aerospace Group | AERWINS Technologies vs. Bonso Electronics International | AERWINS Technologies vs. Cardio Diagnostics Holdings | AERWINS Technologies vs. Movella Holdings |
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 Stocks Directory module to find actively traded stocks across global markets.
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