Correlation Between Power Fi and Docebo

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

By analyzing existing cross correlation between Power Fi 440 and Docebo Inc, you can compare the effects of market volatilities on Power Fi and Docebo 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 Power Fi with a short position of Docebo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Power Fi and Docebo.

Diversification Opportunities for Power Fi and Docebo

0.34

Correlation Coefficient

Power Fi  Docebo

Weak diversification

The 3 months correlation between Power and Docebo is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Power Fi 440 and Docebo Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Docebo Inc and Power Fi 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 Power Fi 440 are associated (or correlated) with Docebo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Docebo Inc has no effect on the direction of Power Fi i.e., Power Fi and Docebo go up and down completely randomly.

Pair Corralation between Power Fi and Docebo

Assuming the 90 days trading horizon Power Fi 440 is expected to generate 0.43 times more return on investment than Docebo. However, Power Fi 440 is 2.35 times less risky than Docebo. It trades about 0.17 of its potential returns per unit of risk. Docebo Inc is currently generating about -0.02 per unit of risk. If you would invest  1,471  in Power Fi 440 on July 21, 2025 and sell it today you would earn a total of  337.00  from holding Power Fi 440 or generate 22.91% return on investment over 90 days.

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

Power Fi 440  vs.  Docebo Inc

Power Fi 440

Risk-Adjusted Performance

Weakest

Over the last 90 days Power Fi 440 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong technical and fundamental indicators, Power Fi is not utilizing all of its potentials. The recent stock price disturbance, may contribute to short-term losses for the investors.

Docebo Inc

Risk-Adjusted Performance

Weakest

Over the last 90 days Docebo Inc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest unfluctuating performance, the Stock's basic indicators remain healthy and the recent disarray on Wall Street may also be a sign of long period gains for the firm investors.

Pair Trading with Power Fi and Docebo

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

The idea behind Power Fi 440 and Docebo Inc 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.