Correlation Between Nixxy, and Click Holdings

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

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

Diversification Opportunities for Nixxy, and Click Holdings

0.16

Correlation Coefficient

Nixxy,  Click Holdings

Average diversification

The 3 months correlation between Nixxy, and Click is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Nixxy, Inc and Click Holdings Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Click Holdings and Nixxy, 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 Nixxy, Inc are associated (or correlated) with Click Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Click Holdings has no effect on the direction of Nixxy, i.e., Nixxy, and Click Holdings go up and down completely randomly.

Pair Corralation between Nixxy, and Click Holdings

Given the investment horizon of 90 days Nixxy, Inc is expected to generate 0.58 times more return on investment than Click Holdings. However, Nixxy, Inc is 1.74 times less risky than Click Holdings. It trades about 0.18 of its potential returns per unit of risk. Click Holdings Limited is currently generating about -0.05 per unit of risk. If you would invest  225.00  in Nixxy, Inc on September 12, 2024 and sell it today you would earn a total of  214.00  from holding Nixxy, Inc or generate 95.11% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	70.31%
Values	Daily Returns

Nixxy, Inc  vs.  Click Holdings Limited

Nixxy, Inc

Risk-Adjusted Performance

14 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Nixxy, Inc are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. In spite of fairly unfluctuating basic indicators, Nixxy, showed solid returns over the last few months and may actually be approaching a breakup point.

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.

Pair Trading with Nixxy, and Click Holdings

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

The idea behind Nixxy, Inc and Click Holdings Limited 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.

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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 Bonds Directory module to find actively traded corporate debentures issued by US companies.