Correlation Between Alliance Global and Icbs

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

By analyzing existing cross correlation between Alliance Global Group and Icbs Ltd New, you can compare the effects of market volatilities on Alliance Global and Icbs 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 Alliance Global with a short position of Icbs. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alliance Global and Icbs.

Diversification Opportunities for Alliance Global and Icbs

0.0

Correlation Coefficient

Alliance Global  Icbs

Pay attention - limited upside

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

Pair Corralation between Alliance Global and Icbs

If you would invest  0.00  in Icbs Ltd New on September 1, 2025 and sell it today you would earn a total of  0.00  from holding Icbs Ltd New or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Alliance Global Group  vs.  Icbs Ltd New

Alliance Global Group

Risk-Adjusted Performance

Weakest

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

Icbs Ltd New

Risk-Adjusted Performance

Weakest

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

Pair Trading with Alliance Global and Icbs

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

The idea behind Alliance Global Group and Icbs Ltd New 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.