Correlation Between Viewbix Common and Icon Information

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

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

Diversification Opportunities for Viewbix Common and Icon Information

-0.22

Correlation Coefficient

Viewbix Common  Icon Information

Very good diversification

The 3 months correlation between Viewbix and Icon is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Viewbix Common Stock and Icon Information Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Icon Information Tec and Viewbix Common 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 Viewbix Common Stock are associated (or correlated) with Icon Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Icon Information Tec has no effect on the direction of Viewbix Common i.e., Viewbix Common and Icon Information go up and down completely randomly.

Pair Corralation between Viewbix Common and Icon Information

Given the investment horizon of 90 days Viewbix Common Stock is expected to generate 8.84 times more return on investment than Icon Information. However, Viewbix Common is 8.84 times more volatile than Icon Information Technology. It trades about 0.05 of its potential returns per unit of risk. Icon Information Technology is currently generating about 0.24 per unit of risk. If you would invest  525.00  in Viewbix Common Stock on April 24, 2025 and sell it today you would earn a total of  15.00  from holding Viewbix Common Stock or generate 2.86% return on investment over 90 days.

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

Viewbix Common Stock  vs.  Icon Information Technology

Viewbix Common Stock

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in Viewbix Common Stock are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of fairly inconsistent forward indicators, Viewbix Common showed solid returns over the last few months and may actually be approaching a breakup point.

Icon Information Tec

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Icon Information Technology are ranked lower than 18 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak technical and fundamental indicators, Icon Information showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Viewbix Common and Icon Information

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

The idea behind Viewbix Common Stock and Icon Information Technology 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..