Correlation Between Upsales Technology and Zaplox AB

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

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

Diversification Opportunities for Upsales Technology and Zaplox AB

-0.48

Correlation Coefficient

Upsales Technology  Zaplox AB

Very good diversification

The 3 months correlation between Upsales and Zaplox is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding Upsales Technology AB and Zaplox AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zaplox AB and Upsales Technology 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 Upsales Technology AB are associated (or correlated) with Zaplox AB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zaplox AB has no effect on the direction of Upsales Technology i.e., Upsales Technology and Zaplox AB go up and down completely randomly.

Pair Corralation between Upsales Technology and Zaplox AB

Assuming the 90 days trading horizon Upsales Technology AB is expected to generate 0.6 times more return on investment than Zaplox AB. However, Upsales Technology AB is 1.68 times less risky than Zaplox AB. It trades about 0.04 of its potential returns per unit of risk. Zaplox AB is currently generating about 0.0 per unit of risk. If you would invest  3,231  in Upsales Technology AB on April 23, 2025 and sell it today you would earn a total of  129.00  from holding Upsales Technology AB or generate 3.99% return on investment over 90 days.

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

Upsales Technology AB  vs.  Zaplox AB

Upsales Technology

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Upsales Technology AB are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. Despite somewhat uncertain basic indicators, Upsales Technology may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Zaplox AB

Risk-Adjusted Performance

Very Weak

Over the last 90 days Zaplox AB has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Zaplox AB is not utilizing all of its potentials. The newest stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Upsales Technology and Zaplox AB

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

The idea behind Upsales Technology AB and Zaplox AB 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 Transaction History module to view history of all your transactions and understand their impact on performance.