Correlation Between Kubient and C3 Ai

Can any of the company-specific risk be diversified away by investing in both Kubient and C3 Ai 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 Kubient and C3 Ai into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Kubient and C3 Ai Inc, you can compare the effects of market volatilities on Kubient and C3 Ai 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 Kubient with a short position of C3 Ai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kubient and C3 Ai.

Diversification Opportunities for Kubient and C3 Ai

-0.17

Correlation Coefficient

Kubient  C3 Ai

Good diversification

The 3 months correlation between Kubient and C3 Ai is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Kubient and C3 Ai Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C3 Ai Inc and Kubient 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 Kubient are associated (or correlated) with C3 Ai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C3 Ai Inc has no effect on the direction of Kubient i.e., Kubient and C3 Ai go up and down completely randomly.

Pair Corralation between Kubient and C3 Ai

If you would invest  2,328  in C3 Ai Inc on September 16, 2024 and sell it today you would earn a total of  1,618  from holding C3 Ai Inc or generate 69.5% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	1.54%
Values	Daily Returns

Kubient  vs.  C3 Ai Inc

Kubient

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Kubient has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Kubient is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

C3 Ai Inc

Risk-Adjusted Performance

16 of 100

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in C3 Ai Inc are ranked lower than 16 (%) of all global equities and portfolios over the last 90 days. Despite fairly fragile forward indicators, C3 Ai demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Kubient and C3 Ai

The main advantage of trading using opposite Kubient and C3 Ai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kubient position performs unexpectedly, C3 Ai 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 C3 Ai will offset losses from the drop in C3 Ai's long position.

The idea behind Kubient and C3 Ai 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.