Correlation Between Identiv and CSSC Offshore

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

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

Diversification Opportunities for Identiv and CSSC Offshore

0.0

Correlation Coefficient

Identiv  CSSC Offshore

Pay attention - limited upside

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

Pair Corralation between Identiv and CSSC Offshore

If you would invest  121.00  in CSSC Offshore Marine on May 14, 2025 and sell it today you would earn a total of  1.00  from holding CSSC Offshore Marine or generate 0.83% return on investment over 90 days.

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

Identiv  vs.  CSSC Offshore Marine

Identiv

Risk-Adjusted Performance

Soft

Over the last 90 days Identiv has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, Identiv is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

CSSC Offshore Marine

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in CSSC Offshore Marine are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, CSSC Offshore is not utilizing all of its potentials. The newest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Identiv and CSSC Offshore

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

The idea behind Identiv and CSSC Offshore Marine 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.