Correlation Between G Tec and Embassy Office
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By analyzing existing cross correlation between G Tec Jainx Education and Embassy Office Parks, you can compare the effects of market volatilities on G Tec and Embassy Office 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 G Tec with a short position of Embassy Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of G Tec and Embassy Office.
Diversification Opportunities for G Tec and Embassy Office
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between GTECJAINX and Embassy is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding G Tec Jainx Education and Embassy Office Parks in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Embassy Office Parks and G Tec 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 G Tec Jainx Education are associated (or correlated) with Embassy Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Embassy Office Parks has no effect on the direction of G Tec i.e., G Tec and Embassy Office go up and down completely randomly.
Pair Corralation between G Tec and Embassy Office
Assuming the 90 days trading horizon G Tec Jainx Education is expected to generate 1.97 times more return on investment than Embassy Office. However, G Tec is 1.97 times more volatile than Embassy Office Parks. It trades about 0.08 of its potential returns per unit of risk. Embassy Office Parks is currently generating about -0.03 per unit of risk. If you would invest 3,532 in G Tec Jainx Education on September 25, 2024 and sell it today you would earn a total of 151.00 from holding G Tec Jainx Education or generate 4.28% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
G Tec Jainx Education vs. Embassy Office Parks
Performance |
Timeline |
G Tec Jainx |
Embassy Office Parks |
G Tec and Embassy Office Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with G Tec and Embassy Office
The main advantage of trading using opposite G Tec and Embassy Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if G Tec position performs unexpectedly, Embassy Office 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 Embassy Office will offset losses from the drop in Embassy Office's long position.G Tec vs. NIIT LEARNING SYSTEMS | G Tec vs. NIIT Limited | G Tec vs. Veranda Learning Solutions | G Tec vs. Aptech Limited |
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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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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