Correlation Between SatixFy Communications and Hennessy Technology

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

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

Diversification Opportunities for SatixFy Communications and Hennessy Technology

-0.34

Correlation Coefficient

SatixFy Communications  Hennessy Technology

Very good diversification

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

Pair Corralation between SatixFy Communications and Hennessy Technology

If you would invest  296.00  in SatixFy Communications on September 6, 2025 and sell it today you would earn a total of  0.00  from holding SatixFy Communications or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	1.59%
Values	Daily Returns

SatixFy Communications  vs.  Hennessy Technology Fund

SatixFy Communications

Risk-Adjusted Performance

Weakest

Over the last 90 days SatixFy Communications has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly strong basic indicators, SatixFy Communications is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short-term losses for the investors.

Hennessy Technology

Risk-Adjusted Performance

Weakest

Over the last 90 days Hennessy Technology Fund has generated negative risk-adjusted returns adding no value to fund investors. In spite of weak performance in the last few months, the Fund's fundamental indicators remain fairly strong which may send shares a bit higher in January 2026. The current disturbance may also be a sign of long term up-swing for the fund investors.

Pair Trading with SatixFy Communications and Hennessy Technology

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

The idea behind SatixFy Communications and Hennessy Technology Fund 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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.