Correlation Between Society Pass and Freight Technologies

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

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

Diversification Opportunities for Society Pass and Freight Technologies

-0.4

Correlation Coefficient

Society Pass  Freight Technologies

Very good diversification

The 3 months correlation between Society and Freight is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Society Pass and Freight Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Freight Technologies and Society Pass 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 Society Pass are associated (or correlated) with Freight Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Freight Technologies has no effect on the direction of Society Pass i.e., Society Pass and Freight Technologies go up and down completely randomly.

Pair Corralation between Society Pass and Freight Technologies

Given the investment horizon of 90 days Society Pass is expected to generate 0.76 times more return on investment than Freight Technologies. However, Society Pass is 1.32 times less risky than Freight Technologies. It trades about 0.04 of its potential returns per unit of risk. Freight Technologies is currently generating about -0.28 per unit of risk. If you would invest  115.00  in Society Pass on May 7, 2025 and sell it today you would earn a total of  5.00  from holding Society Pass or generate 4.35% return on investment over 90 days.

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

Society Pass  vs.  Freight Technologies

Society Pass

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Society Pass are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite somewhat uncertain basic indicators, Society Pass may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Freight Technologies

Risk-Adjusted Performance

Weakest

Over the last 90 days Freight Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of inconsistent performance in the last few months, the Stock's technical and fundamental indicators remain comparatively stable which may send shares a bit higher in September 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with Society Pass and Freight Technologies

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

The idea behind Society Pass and Freight Technologies 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.