Correlation Between Clear Secure and Expensify
Can any of the company-specific risk be diversified away by investing in both Clear Secure and Expensify 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 Clear Secure and Expensify into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Clear Secure and Expensify, you can compare the effects of market volatilities on Clear Secure and Expensify 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 Clear Secure with a short position of Expensify. Check out your portfolio center. Please also check ongoing floating volatility patterns of Clear Secure and Expensify.
Diversification Opportunities for Clear Secure and Expensify
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Clear and Expensify is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Clear Secure and Expensify in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Expensify and Clear Secure 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 Clear Secure are associated (or correlated) with Expensify. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Expensify has no effect on the direction of Clear Secure i.e., Clear Secure and Expensify go up and down completely randomly.
Pair Corralation between Clear Secure and Expensify
Considering the 90-day investment horizon Clear Secure is expected to generate 0.78 times more return on investment than Expensify. However, Clear Secure is 1.27 times less risky than Expensify. It trades about 0.05 of its potential returns per unit of risk. Expensify is currently generating about -0.13 per unit of risk. If you would invest 2,944 in Clear Secure on July 20, 2025 and sell it today you would earn a total of 184.00 from holding Clear Secure or generate 6.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Clear Secure vs. Expensify
Performance |
| Timeline |
| Clear Secure |
| Expensify |
Clear Secure and Expensify Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Clear Secure and Expensify
The main advantage of trading using opposite Clear Secure and Expensify positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Clear Secure position performs unexpectedly, Expensify 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 Expensify will offset losses from the drop in Expensify's long position.| Clear Secure vs. Expensify | Clear Secure vs. Gitlab Inc | Clear Secure vs. Braze Inc | Clear Secure vs. nCino Inc |
| Expensify vs. Lendway | Expensify vs. Supercom | Expensify vs. Sonim Technologies | Expensify vs. Thrivent High Yield |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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