Correlation Between FTX Token and AGI

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Can any of the company-specific risk be diversified away by investing in both FTX Token and AGI 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 FTX Token and AGI into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between FTX Token and AGI, you can compare the effects of market volatilities on FTX Token and AGI 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 FTX Token with a short position of AGI. Check out your portfolio center. Please also check ongoing floating volatility patterns of FTX Token and AGI.

Diversification Opportunities for FTX Token and AGI

  Correlation Coefficient

Weak diversification

The 3 months correlation between FTX Token and AGI is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding FTX Token and AGI in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AGI and FTX Token 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 FTX Token are associated (or correlated) with AGI. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AGI has no effect on the direction of FTX Token i.e., FTX Token and AGI go up and down completely randomly.

Pair Corralation between FTX Token and AGI

Assuming the 90 days trading horizon FTX Token is expected to generate 0.59 times more return on investment than AGI. However, FTX Token is 1.71 times less risky than AGI. It trades about -0.04 of its potential returns per unit of risk. AGI is currently generating about -0.03 per unit of risk. If you would invest  6,156  in FTX Token on May 18, 2022 and sell it today you would lose (3,021)  from holding FTX Token or give up 49.07% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
ValuesDaily Returns

FTX Token  vs.  AGI

 Performance (%) 
FTX Token 
FTX Token Performance
2 of 100
Compared to the overall equity markets, risk-adjusted returns on investments in FTX Token are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, FTX Token may actually be approaching a critical reversion point that can send shares even higher in September 2022.

FTX Token Price Channel

AGI Performance
0 of 100
Over the last 90 days AGI has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong technical and fundamental indicators, AGI is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

AGI Price Channel

FTX Token and AGI Volatility Contrast

   Predicted Return Density   

Pair Trading with FTX Token and AGI

The main advantage of trading using opposite FTX Token and AGI positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FTX Token position performs unexpectedly, AGI 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 AGI will offset losses from the drop in AGI's long position.
The idea behind FTX Token and AGI 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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.

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