Correlation Between YieldMax AMZN and Friendable

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

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

Diversification Opportunities for YieldMax AMZN and Friendable

-0.31

Correlation Coefficient

YieldMax AMZN  Friendable

Very good diversification

The 3 months correlation between YieldMax and Friendable is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding YieldMax AMZN Option and Friendable in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Friendable and YieldMax AMZN 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 YieldMax AMZN Option are associated (or correlated) with Friendable. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Friendable has no effect on the direction of YieldMax AMZN i.e., YieldMax AMZN and Friendable go up and down completely randomly.

Pair Corralation between YieldMax AMZN and Friendable

Given the investment horizon of 90 days YieldMax AMZN Option is expected to under-perform the Friendable. But the etf apears to be less risky and, when comparing its historical volatility, YieldMax AMZN Option is 8.87 times less risky than Friendable. The etf trades about -0.02 of its potential returns per unit of risk. The Friendable is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest  0.01  in Friendable on July 27, 2025 and sell it today you would earn a total of  0.00  from holding Friendable or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	98.46%
Values	Daily Returns

YieldMax AMZN Option  vs.  Friendable

YieldMax AMZN Option

Risk-Adjusted Performance

Weakest

Over the last 90 days YieldMax AMZN Option has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, YieldMax AMZN is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Friendable

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Friendable are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite quite weak fundamental drivers, Friendable disclosed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with YieldMax AMZN and Friendable

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

The idea behind YieldMax AMZN Option and Friendable 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 Global Correlations module to find global opportunities by holding instruments from different markets.