Correlation Between Agilyx AS and EcoPlus

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

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

Diversification Opportunities for Agilyx AS and EcoPlus

-0.29

Correlation Coefficient

Agilyx AS  EcoPlus

Very good diversification

The 3 months correlation between Agilyx and EcoPlus is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Agilyx AS and EcoPlus in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EcoPlus and Agilyx AS 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 Agilyx AS are associated (or correlated) with EcoPlus. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EcoPlus has no effect on the direction of Agilyx AS i.e., Agilyx AS and EcoPlus go up and down completely randomly.

Pair Corralation between Agilyx AS and EcoPlus

Assuming the 90 days horizon Agilyx AS is expected to under-perform the EcoPlus. But the otc stock apears to be less risky and, when comparing its historical volatility, Agilyx AS is 9.64 times less risky than EcoPlus. The otc stock trades about -0.04 of its potential returns per unit of risk. The EcoPlus is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest  1.39  in EcoPlus on May 5, 2025 and sell it today you would earn a total of  0.00  from holding EcoPlus or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	96.92%
Values	Daily Returns

Agilyx AS  vs.  EcoPlus

Agilyx AS

Risk-Adjusted Performance

Very Weak

Over the last 90 days Agilyx AS has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Agilyx AS is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

EcoPlus

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in EcoPlus are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite quite fragile basic indicators, EcoPlus disclosed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Agilyx AS and EcoPlus

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

The idea behind Agilyx AS and EcoPlus 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.