Correlation Between CXApp and Phunware

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

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

Diversification Opportunities for CXApp and Phunware

0.73

Correlation Coefficient

CXApp  Phunware

Poor diversification

The 3 months correlation between CXApp and Phunware is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding CXApp Inc and Phunware in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Phunware and CXApp 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 CXApp Inc 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 CXApp i.e., CXApp and Phunware go up and down completely randomly.

Pair Corralation between CXApp and Phunware

Given the investment horizon of 90 days CXApp Inc is expected to under-perform the Phunware. But the stock apears to be less risky and, when comparing its historical volatility, CXApp Inc is 1.2 times less risky than Phunware. The stock trades about -0.09 of its potential returns per unit of risk. The Phunware is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest  303.00  in Phunware on May 28, 2025 and sell it today you would lose (40.00) from holding Phunware or give up 13.2% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

CXApp Inc  vs.  Phunware

CXApp Inc

Risk-Adjusted Performance

Weakest

Over the last 90 days CXApp Inc has generated negative risk-adjusted returns adding no value to investors with long positions. Despite inconsistent performance in the last few months, the Stock's basic indicators remain fairly strong which may send shares a bit higher in September 2025. The recent confusion may also be a sign of long-lasting up-swing for the firm traders.

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 weak 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 CXApp and Phunware

The main advantage of trading using opposite CXApp and Phunware positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CXApp 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 CXApp Inc 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 Bonds Directory module to find actively traded corporate debentures issued by US companies.