Correlation Between Cabana Target and Figma,

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

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

Diversification Opportunities for Cabana Target and Figma,

0.46

Correlation Coefficient

Cabana Target  Figma,

Very weak diversification

The 3 months correlation between Cabana and Figma, is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Cabana Target Leading and Figma, Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Figma, Inc and Cabana Target 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 Cabana Target Leading are associated (or correlated) with Figma,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Figma, Inc has no effect on the direction of Cabana Target i.e., Cabana Target and Figma, go up and down completely randomly.

Pair Corralation between Cabana Target and Figma,

Given the investment horizon of 90 days Cabana Target is expected to generate 98.7 times less return on investment than Figma,. But when comparing it to its historical volatility, Cabana Target Leading is 95.68 times less risky than Figma,. It trades about 0.22 of its potential returns per unit of risk. Figma, Inc is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest  2,306  in Figma, Inc on May 15, 2025 and sell it today you would earn a total of  6,444  from holding Figma, Inc or generate 279.47% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	35.48%
Values	Daily Returns

Cabana Target Leading  vs.  Figma, Inc

Cabana Target Leading

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Cabana Target Leading are ranked lower than 17 (%) of all global equities and portfolios over the last 90 days. In spite of very fragile basic indicators, Cabana Target may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Figma, Inc

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Figma, Inc are ranked lower than 17 (%) of all global equities and portfolios over the last 90 days. Despite nearly unsteady forward indicators, Figma, reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Cabana Target and Figma,

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

The idea behind Cabana Target Leading and Figma, Inc 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.