Correlation Between Alpha Modus and Phunware

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

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

Diversification Opportunities for Alpha Modus and Phunware

-0.19

Correlation Coefficient

Alpha Modus  Phunware

Good diversification

The 3 months correlation between Alpha and Phunware is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Alpha Modus Holdings, and Phunware in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Phunware and Alpha Modus 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 Alpha Modus Holdings, are associated (or correlated) with Phunware. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Phunware has no effect on the direction of Alpha Modus i.e., Alpha Modus and Phunware go up and down completely randomly.

Pair Corralation between Alpha Modus and Phunware

Assuming the 90 days horizon Alpha Modus Holdings, is expected to generate 0.84 times more return on investment than Phunware. However, Alpha Modus Holdings, is 1.19 times less risky than Phunware. It trades about 0.09 of its potential returns per unit of risk. Phunware is currently generating about 0.03 per unit of risk. If you would invest  5.60  in Alpha Modus Holdings, on July 17, 2025 and sell it today you would earn a total of  3.29  from holding Alpha Modus Holdings, or generate 58.75% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	38.46%
Values	Daily Returns

Alpha Modus Holdings,  vs.  Phunware

Alpha Modus Holdings,

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Alpha Modus Holdings, are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of fairly fragile fundamental indicators, Alpha Modus showed solid returns over the last few months and may actually be approaching a breakup point.

Phunware

Risk-Adjusted Performance

Weakest

Over the last 90 days Phunware has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest unfluctuating performance, the Stock's basic indicators remain healthy and the recent disarray on Wall Street may also be a sign of long period gains for the firm investors.

Pair Trading with Alpha Modus and Phunware

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

The idea behind Alpha Modus Holdings, and Phunware 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.