Correlation Between Apex Frozen and GACM Technologies
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By analyzing existing cross correlation between Apex Frozen Foods and GACM Technologies Limited, you can compare the effects of market volatilities on Apex Frozen and GACM Technologies 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 Apex Frozen with a short position of GACM Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Apex Frozen and GACM Technologies.
Diversification Opportunities for Apex Frozen and GACM Technologies
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Apex and GACM is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Apex Frozen Foods and GACM Technologies Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GACM Technologies and Apex Frozen 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 Apex Frozen Foods are associated (or correlated) with GACM Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GACM Technologies has no effect on the direction of Apex Frozen i.e., Apex Frozen and GACM Technologies go up and down completely randomly.
Pair Corralation between Apex Frozen and GACM Technologies
Assuming the 90 days trading horizon Apex Frozen is expected to generate 1.53 times less return on investment than GACM Technologies. In addition to that, Apex Frozen is 2.85 times more volatile than GACM Technologies Limited. It trades about 0.02 of its total potential returns per unit of risk. GACM Technologies Limited is currently generating about 0.07 per unit of volatility. If you would invest 96.00 in GACM Technologies Limited on October 24, 2024 and sell it today you would earn a total of 2.00 from holding GACM Technologies Limited or generate 2.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Apex Frozen Foods vs. GACM Technologies Limited
Performance |
| Timeline |
| Apex Frozen Foods |
| GACM Technologies |
Apex Frozen and GACM Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Apex Frozen and GACM Technologies
The main advantage of trading using opposite Apex Frozen and GACM Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Apex Frozen position performs unexpectedly, GACM Technologies 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 GACM Technologies will offset losses from the drop in GACM Technologies' long position.| Apex Frozen vs. Selan Exploration Technology | Apex Frozen vs. HDFC Asset Management | Apex Frozen vs. Mtar Technologies Limited | Apex Frozen vs. Rossari Biotech Limited |
| GACM Technologies vs. Sarveshwar Foods Limited | GACM Technologies vs. Hindustan Foods Limited | GACM Technologies vs. Apex Frozen Foods | GACM Technologies vs. AXISCADES Technologies Limited |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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