Correlation Between FiscalNote Holdings and Perficient

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

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

Diversification Opportunities for FiscalNote Holdings and Perficient

0.0

Correlation Coefficient

FiscalNote Holdings  Perficient

Pay attention - limited upside

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

Pair Corralation between FiscalNote Holdings and Perficient

If you would invest  60.00  in FiscalNote Holdings on April 23, 2025 and sell it today you would earn a total of  23.00  from holding FiscalNote Holdings or generate 38.33% return on investment over 90 days.

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

FiscalNote Holdings  vs.  Perficient

FiscalNote Holdings

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in FiscalNote Holdings are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. In spite of rather inconsistent basic indicators, FiscalNote Holdings exhibited solid returns over the last few months and may actually be approaching a breakup point.

Perficient

Risk-Adjusted Performance

Very Weak

Over the last 90 days Perficient has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable technical and fundamental indicators, Perficient 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 FiscalNote Holdings and Perficient

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

The idea behind FiscalNote Holdings and Perficient 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.