Correlation Between CoreLogic and Genpact
Can any of the company-specific risk be diversified away by investing in both CoreLogic and Genpact 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 CoreLogic and Genpact into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CoreLogic and Genpact Limited, you can compare the effects of market volatilities on CoreLogic and Genpact 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 CoreLogic with a short position of Genpact. Check out your portfolio center. Please also check ongoing floating volatility patterns of CoreLogic and Genpact.
Diversification Opportunities for CoreLogic and Genpact
Pay attention - limited upside
The 3 months correlation between CoreLogic and Genpact is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CoreLogic and Genpact Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genpact Limited and CoreLogic 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 CoreLogic are associated (or correlated) with Genpact. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genpact Limited has no effect on the direction of CoreLogic i.e., CoreLogic and Genpact go up and down completely randomly.
Pair Corralation between CoreLogic and Genpact
If you would invest 3,292 in Genpact Limited on September 3, 2024 and sell it today you would earn a total of 1,324 from holding Genpact Limited or generate 40.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
CoreLogic vs. Genpact Limited
Performance |
| Timeline |
| CoreLogic |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Genpact Limited |
CoreLogic and Genpact Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CoreLogic and Genpact
The main advantage of trading using opposite CoreLogic and Genpact positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CoreLogic position performs unexpectedly, Genpact 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 Genpact will offset losses from the drop in Genpact's long position.| CoreLogic vs. American Airlines Group | CoreLogic vs. JetBlue Airways Corp | CoreLogic vs. Consol Energy | CoreLogic vs. Western Copper and |
| Genpact vs. WNS Holdings | Genpact vs. ASGN Inc | Genpact vs. CACI International | Genpact vs. ExlService Holdings |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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