Correlation Between Phunware and Intellinetics

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

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

Diversification Opportunities for Phunware and Intellinetics

0.54

Correlation Coefficient

Phunware  Intellinetics

Very weak diversification

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

Pair Corralation between Phunware and Intellinetics

Given the investment horizon of 90 days Phunware is expected to generate 1.01 times more return on investment than Intellinetics. However, Phunware is 1.01 times more volatile than Intellinetics. It trades about -0.03 of its potential returns per unit of risk. Intellinetics is currently generating about -0.09 per unit of risk. If you would invest  251.00  in Phunware on August 11, 2025 and sell it today you would lose (23.00) from holding Phunware or give up 9.16% of portfolio value over 90 days.

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

Phunware  vs.  Intellinetics

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 very healthy basic indicators, Phunware is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.

Intellinetics

Risk-Adjusted Performance

Weakest

Over the last 90 days Intellinetics has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's essential indicators remain fairly strong which may send shares a bit higher in December 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with Phunware and Intellinetics

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

The idea behind Phunware and Intellinetics 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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.