Correlation Between United Maritime and XTI Aerospace,

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

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

Diversification Opportunities for United Maritime and XTI Aerospace,

0.27

Correlation Coefficient

United Maritime  XTI Aerospace,

Modest diversification

The 3 months correlation between United and XTI is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding United Maritime and XTI Aerospace, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on XTI Aerospace, and United Maritime 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 United Maritime are associated (or correlated) with XTI Aerospace,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of XTI Aerospace, has no effect on the direction of United Maritime i.e., United Maritime and XTI Aerospace, go up and down completely randomly.

Pair Corralation between United Maritime and XTI Aerospace,

Given the investment horizon of 90 days United Maritime is expected to generate 2.85 times less return on investment than XTI Aerospace,. But when comparing it to its historical volatility, United Maritime is 3.12 times less risky than XTI Aerospace,. It trades about 0.12 of its potential returns per unit of risk. XTI Aerospace, is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  129.00  in XTI Aerospace, on May 7, 2025 and sell it today you would earn a total of  67.00  from holding XTI Aerospace, or generate 51.94% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	98.39%
Values	Daily Returns

United Maritime  vs.  XTI Aerospace,

United Maritime

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in United Maritime are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Despite somewhat unfluctuating technical and fundamental indicators, United Maritime sustained solid returns over the last few months and may actually be approaching a breakup point.

XTI Aerospace,

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in XTI Aerospace, are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite somewhat fragile forward indicators, XTI Aerospace, sustained solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with United Maritime and XTI Aerospace,

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

The idea behind United Maritime and XTI Aerospace, 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.