Correlation Between EAT WELL and Gol Intelligent
Can any of the company-specific risk be diversified away by investing in both EAT WELL and Gol Intelligent 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 EAT WELL and Gol Intelligent into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between EAT WELL INVESTMENT and Gol Intelligent Airlines, you can compare the effects of market volatilities on EAT WELL and Gol Intelligent 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 EAT WELL with a short position of Gol Intelligent. Check out your portfolio center. Please also check ongoing floating volatility patterns of EAT WELL and Gol Intelligent.
Diversification Opportunities for EAT WELL and Gol Intelligent
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between EAT and Gol is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding EAT WELL INVESTMENT and Gol Intelligent Airlines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gol Intelligent Airlines and EAT WELL 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 EAT WELL INVESTMENT are associated (or correlated) with Gol Intelligent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gol Intelligent Airlines has no effect on the direction of EAT WELL i.e., EAT WELL and Gol Intelligent go up and down completely randomly.
Pair Corralation between EAT WELL and Gol Intelligent
If you would invest 42.00 in Gol Intelligent Airlines on September 12, 2024 and sell it today you would earn a total of 0.00 from holding Gol Intelligent Airlines or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.44% |
| Values | Daily Returns |
EAT WELL INVESTMENT vs. Gol Intelligent Airlines
Performance |
| Timeline |
| EAT WELL INVESTMENT |
| Gol Intelligent Airlines |
EAT WELL and Gol Intelligent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with EAT WELL and Gol Intelligent
The main advantage of trading using opposite EAT WELL and Gol Intelligent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if EAT WELL position performs unexpectedly, Gol Intelligent 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 Gol Intelligent will offset losses from the drop in Gol Intelligent's long position.| EAT WELL vs. Ameriprise Financial | EAT WELL vs. Ares Management Corp | EAT WELL vs. Superior Plus Corp | EAT WELL vs. SIVERS SEMICONDUCTORS AB |
| Gol Intelligent vs. Apple Inc | Gol Intelligent vs. Apple Inc | Gol Intelligent vs. Apple Inc | Gol Intelligent vs. Apple Inc |
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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments |