Correlation Between Click Holdings and Nixxy,

Can any of the company-specific risk be diversified away by investing in both Click Holdings and Nixxy, 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 Click Holdings and Nixxy, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Click Holdings Limited and Nixxy, Inc, you can compare the effects of market volatilities on Click Holdings and Nixxy, 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 Click Holdings with a short position of Nixxy,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Click Holdings and Nixxy,.

Diversification Opportunities for Click Holdings and Nixxy,

0.0

Correlation Coefficient

Click Holdings  Nixxy,

Pay attention - limited upside

The 3 months correlation between Click and Nixxy, is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Click Holdings Limited and Nixxy, Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nixxy, Inc and Click Holdings 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 Click Holdings Limited are associated (or correlated) with Nixxy,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nixxy, Inc has no effect on the direction of Click Holdings i.e., Click Holdings and Nixxy, go up and down completely randomly.

Pair Corralation between Click Holdings and Nixxy,

Given the investment horizon of 90 days Click Holdings Limited is expected to under-perform the Nixxy,. In addition to that, Click Holdings is 1.62 times more volatile than Nixxy, Inc. It trades about -0.05 of its total potential returns per unit of risk. Nixxy, Inc is currently generating about 0.22 per unit of volatility. If you would invest  222.00  in Nixxy, Inc on September 13, 2024 and sell it today you would earn a total of  312.00  from holding Nixxy, Inc or generate 140.54% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	71.88%
Values	Daily Returns

Click Holdings Limited  vs.  Nixxy, Inc

Click Holdings

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Click Holdings Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's forward indicators remain quite persistent which may send shares a bit higher in January 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Nixxy, Inc

Risk-Adjusted Performance

17 of 100

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Nixxy, Inc are ranked lower than 17 (%) of all global equities and portfolios over the last 90 days. In spite of fairly inconsistent basic indicators, Nixxy, showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Click Holdings and Nixxy,

The main advantage of trading using opposite Click Holdings and Nixxy, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Click Holdings position performs unexpectedly, Nixxy, 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 Nixxy, will offset losses from the drop in Nixxy,'s long position.

The idea behind Click Holdings Limited and Nixxy, Inc pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.