Correlation Between XWELL and Neo Concept
Can any of the company-specific risk be diversified away by investing in both XWELL and Neo Concept 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 XWELL and Neo Concept into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between XWELL Inc and Neo Concept International Group, you can compare the effects of market volatilities on XWELL and Neo Concept 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 XWELL with a short position of Neo Concept. Check out your portfolio center. Please also check ongoing floating volatility patterns of XWELL and Neo Concept.
Diversification Opportunities for XWELL and Neo Concept
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between XWELL and Neo is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding XWELL Inc and Neo Concept International Grou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Neo Concept Internat and XWELL 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 XWELL Inc are associated (or correlated) with Neo Concept. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Neo Concept Internat has no effect on the direction of XWELL i.e., XWELL and Neo Concept go up and down completely randomly.
Pair Corralation between XWELL and Neo Concept
Given the investment horizon of 90 days XWELL Inc is expected to generate 0.82 times more return on investment than Neo Concept. However, XWELL Inc is 1.22 times less risky than Neo Concept. It trades about -0.11 of its potential returns per unit of risk. Neo Concept International Group is currently generating about -0.19 per unit of risk. If you would invest 104.00 in XWELL Inc on September 10, 2025 and sell it today you would lose (25.00) from holding XWELL Inc or give up 24.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
XWELL Inc vs. Neo Concept International Grou
Performance |
| Timeline |
| XWELL Inc |
| Neo Concept Internat |
XWELL and Neo Concept Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with XWELL and Neo Concept
The main advantage of trading using opposite XWELL and Neo Concept positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if XWELL position performs unexpectedly, Neo Concept 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 Neo Concept will offset losses from the drop in Neo Concept's long position.| XWELL vs. Envirotech Vehicles | XWELL vs. Twin Vee Powercats | XWELL vs. Interactive Strength Common | XWELL vs. E Home Household Service |
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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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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