Correlation Between Vopia and Kinaxis

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

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

Diversification Opportunities for Vopia and Kinaxis

0.54

Correlation Coefficient

Vopia  Kinaxis

Very weak diversification

The 3 months correlation between Vopia and Kinaxis is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Vopia Inc and Kinaxis in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kinaxis and Vopia 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 Vopia Inc are associated (or correlated) with Kinaxis. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kinaxis has no effect on the direction of Vopia i.e., Vopia and Kinaxis go up and down completely randomly.

Pair Corralation between Vopia and Kinaxis

Given the investment horizon of 90 days Vopia Inc is expected to generate 22.14 times more return on investment than Kinaxis. However, Vopia is 22.14 times more volatile than Kinaxis. It trades about 0.13 of its potential returns per unit of risk. Kinaxis is currently generating about 0.16 per unit of risk. If you would invest  0.02  in Vopia Inc on April 30, 2025 and sell it today you would earn a total of  0.01  from holding Vopia Inc or generate 50.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	98.39%
Values	Daily Returns

Vopia Inc  vs.  Kinaxis

Vopia Inc

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Vopia Inc are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. Despite nearly conflicting basic indicators, Vopia reported solid returns over the last few months and may actually be approaching a breakup point.

Kinaxis

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Kinaxis are ranked lower than 12 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile fundamental indicators, Kinaxis may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with Vopia and Kinaxis

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

The idea behind Vopia Inc and Kinaxis 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.