Correlation Between Fonix Mobile and Amplitude

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

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

Diversification Opportunities for Fonix Mobile and Amplitude

0.73

Correlation Coefficient

Fonix Mobile  Amplitude

Poor diversification

The 3 months correlation between Fonix and Amplitude is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Fonix Mobile plc and Amplitude in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplitude and Fonix Mobile 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 Fonix Mobile plc are associated (or correlated) with Amplitude. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplitude has no effect on the direction of Fonix Mobile i.e., Fonix Mobile and Amplitude go up and down completely randomly.

Pair Corralation between Fonix Mobile and Amplitude

Assuming the 90 days trading horizon Fonix Mobile plc is expected to under-perform the Amplitude. But the stock apears to be less risky and, when comparing its historical volatility, Fonix Mobile plc is 1.65 times less risky than Amplitude. The stock trades about -0.08 of its potential returns per unit of risk. The Amplitude is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest  1,104  in Amplitude on August 26, 2025 and sell it today you would lose (106.00) from holding Amplitude or give up 9.6% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	98.46%
Values	Daily Returns

Fonix Mobile plc  vs.  Amplitude

Fonix Mobile plc

Risk-Adjusted Performance

Weakest

Over the last 90 days Fonix Mobile plc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest uncertain performance, the Stock's technical and fundamental indicators remain sound and the latest tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.

Amplitude

Risk-Adjusted Performance

Weakest

Over the last 90 days Amplitude has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest weak performance, the Stock's basic indicators remain persistent and the latest mess on Wall Street may also be a sign of long-standing gains for the company institutional investors.

Pair Trading with Fonix Mobile and Amplitude

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

The idea behind Fonix Mobile plc and Amplitude 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 AI Portfolio Prophet module to use AI to generate optimal portfolios and find profitable investment opportunities.