Correlation Between Sangoma Technologies and Cyngn
Can any of the company-specific risk be diversified away by investing in both Sangoma Technologies and Cyngn 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 Sangoma Technologies and Cyngn into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sangoma Technologies Corp and Cyngn Inc, you can compare the effects of market volatilities on Sangoma Technologies and Cyngn 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 Sangoma Technologies with a short position of Cyngn. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sangoma Technologies and Cyngn.
Diversification Opportunities for Sangoma Technologies and Cyngn
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Sangoma and Cyngn is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Sangoma Technologies Corp and Cyngn Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cyngn Inc and Sangoma Technologies 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 Sangoma Technologies Corp are associated (or correlated) with Cyngn. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cyngn Inc has no effect on the direction of Sangoma Technologies i.e., Sangoma Technologies and Cyngn go up and down completely randomly.
Pair Corralation between Sangoma Technologies and Cyngn
Assuming the 90 days trading horizon Sangoma Technologies Corp is expected to generate 0.32 times more return on investment than Cyngn. However, Sangoma Technologies Corp is 3.08 times less risky than Cyngn. It trades about -0.02 of its potential returns per unit of risk. Cyngn Inc is currently generating about -0.14 per unit of risk. If you would invest 704.00 in Sangoma Technologies Corp on September 25, 2025 and sell it today you would lose (19.00) from holding Sangoma Technologies Corp or give up 2.7% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 97.62% |
| Values | Daily Returns |
Sangoma Technologies Corp vs. Cyngn Inc
Performance |
| Timeline |
| Sangoma Technologies Corp |
| Cyngn Inc |
Sangoma Technologies and Cyngn Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sangoma Technologies and Cyngn
The main advantage of trading using opposite Sangoma Technologies and Cyngn positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sangoma Technologies position performs unexpectedly, Cyngn 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 Cyngn will offset losses from the drop in Cyngn's long position.| Sangoma Technologies vs. Xtract One Technologies | Sangoma Technologies vs. Vecima Networks | Sangoma Technologies vs. Tucows Inc | Sangoma Technologies vs. WonderFi Technologies |
| Cyngn vs. Swvl Holdings Corp | Cyngn vs. Creative Realities | Cyngn vs. SIMPPLE LTD Ordinary | Cyngn vs. Blackboxstocks |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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