Correlation Between Agile Content and Atrys Health

Can any of the company-specific risk be diversified away by investing in both Agile Content and Atrys Health 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 Agile Content and Atrys Health into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Agile Content SA and Atrys Health SL, you can compare the effects of market volatilities on Agile Content and Atrys Health 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 Agile Content with a short position of Atrys Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agile Content and Atrys Health.

Diversification Opportunities for Agile Content and Atrys Health

0.24

Correlation Coefficient

Agile Content  Atrys Health

Modest diversification

The 3 months correlation between Agile and Atrys is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding Agile Content SA and Atrys Health SL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrys Health SL and Agile Content 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 Agile Content SA are associated (or correlated) with Atrys Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atrys Health SL has no effect on the direction of Agile Content i.e., Agile Content and Atrys Health go up and down completely randomly.

Pair Corralation between Agile Content and Atrys Health

Assuming the 90 days trading horizon Agile Content SA is expected to under-perform the Atrys Health. But the stock apears to be less risky and, when comparing its historical volatility, Agile Content SA is 1.58 times less risky than Atrys Health. The stock trades about -0.14 of its potential returns per unit of risk. The Atrys Health SL is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest  287.00  in Atrys Health SL on April 24, 2025 and sell it today you would earn a total of  11.00  from holding Atrys Health SL or generate 3.83% return on investment over 90 days.

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

Agile Content SA  vs.  Atrys Health SL

Agile Content SA

Risk-Adjusted Performance

Very Weak

Over the last 90 days Agile Content SA has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's fundamental indicators remain rather sound which may send shares a bit higher in August 2025. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Atrys Health SL

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Atrys Health SL are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of rather sound fundamental indicators, Atrys Health is not utilizing all of its potentials. The latest stock price tumult, may contribute to shorter-term losses for the shareholders.

Pair Trading with Agile Content and Atrys Health

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

The idea behind Agile Content SA and Atrys Health SL 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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.