Correlation Between Electronic Tele and Franklin Wireless

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

By analyzing existing cross correlation between Electronic Tele Communications and Franklin Wireless Corp, you can compare the effects of market volatilities on Electronic Tele and Franklin Wireless 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 Electronic Tele with a short position of Franklin Wireless. Check out your portfolio center. Please also check ongoing floating volatility patterns of Electronic Tele and Franklin Wireless.

Diversification Opportunities for Electronic Tele and Franklin Wireless

0.0

Correlation Coefficient

Electronic Tele  Franklin Wireless

Pay attention - limited upside

The 3 months correlation between Electronic and Franklin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Electronic Tele Communications and Franklin Wireless Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Franklin Wireless Corp and Electronic Tele 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 Electronic Tele Communications are associated (or correlated) with Franklin Wireless. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Franklin Wireless Corp has no effect on the direction of Electronic Tele i.e., Electronic Tele and Franklin Wireless go up and down completely randomly.

Pair Corralation between Electronic Tele and Franklin Wireless

If you would invest (100.00) in Electronic Tele Communications on May 7, 2025 and sell it today you would earn a total of  100.00  from holding Electronic Tele Communications or generate -100.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Electronic Tele Communications  vs.  Franklin Wireless Corp

Electronic Tele Comm

Risk-Adjusted Performance

Very Weak

Over the last 90 days Electronic Tele Communications has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong forward indicators, Electronic Tele is not utilizing all of its potentials. The newest stock price disturbance, may contribute to short-term losses for the investors.

Franklin Wireless Corp

Risk-Adjusted Performance

Very Weak

Over the last 90 days Franklin Wireless Corp has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fragile performance in the last few months, the Stock's basic indicators remain quite persistent which may send shares a bit higher in September 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Pair Trading with Electronic Tele and Franklin Wireless

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

The idea behind Electronic Tele Communications and Franklin Wireless Corp 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.