Correlation Between Integrated Electronic and Geron
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By analyzing existing cross correlation between Integrated Electronic Systems and Geron Co, you can compare the effects of market volatilities on Integrated Electronic and Geron 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 Integrated Electronic with a short position of Geron. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrated Electronic and Geron.
Diversification Opportunities for Integrated Electronic and Geron
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Integrated and Geron is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Integrated Electronic Systems and Geron Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Geron and Integrated Electronic 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 Integrated Electronic Systems are associated (or correlated) with Geron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Geron has no effect on the direction of Integrated Electronic i.e., Integrated Electronic and Geron go up and down completely randomly.
Pair Corralation between Integrated Electronic and Geron
Assuming the 90 days trading horizon Integrated Electronic is expected to generate 2.2 times less return on investment than Geron. But when comparing it to its historical volatility, Integrated Electronic Systems is 1.11 times less risky than Geron. It trades about 0.1 of its potential returns per unit of risk. Geron Co is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 1,491 in Geron Co on September 13, 2024 and sell it today you would earn a total of 244.00 from holding Geron Co or generate 16.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Integrated Electronic Systems vs. Geron Co
Performance |
| Timeline |
| Integrated Electronic |
| Geron |
Integrated Electronic and Geron Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrated Electronic and Geron
The main advantage of trading using opposite Integrated Electronic and Geron positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrated Electronic position performs unexpectedly, Geron 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 Geron will offset losses from the drop in Geron's long position.| Integrated Electronic vs. Industrial and Commercial | Integrated Electronic vs. Agricultural Bank of | Integrated Electronic vs. China Construction Bank | Integrated Electronic vs. Bank of China |
| Geron vs. CSSC Offshore Marine | Geron vs. Jilin Jlu Communication | Geron vs. Guocheng Mining Co | Geron vs. China Nonferrous Metal |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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