Correlation Between Crowdstrike Holdings and GN Store
Can any of the company-specific risk be diversified away by investing in both Crowdstrike Holdings and GN Store 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 Crowdstrike Holdings and GN Store into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Crowdstrike Holdings and GN Store Nord, you can compare the effects of market volatilities on Crowdstrike Holdings and GN Store 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 Crowdstrike Holdings with a short position of GN Store. Check out your portfolio center. Please also check ongoing floating volatility patterns of Crowdstrike Holdings and GN Store.
Diversification Opportunities for Crowdstrike Holdings and GN Store
-0.88 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Crowdstrike and GGNDF is -0.88. Overlapping area represents the amount of risk that can be diversified away by holding Crowdstrike Holdings and GN Store Nord in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GN Store Nord and Crowdstrike Holdings 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 Crowdstrike Holdings are associated (or correlated) with GN Store. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GN Store Nord has no effect on the direction of Crowdstrike Holdings i.e., Crowdstrike Holdings and GN Store go up and down completely randomly.
Pair Corralation between Crowdstrike Holdings and GN Store
Given the investment horizon of 90 days Crowdstrike Holdings is expected to generate 0.83 times more return on investment than GN Store. However, Crowdstrike Holdings is 1.21 times less risky than GN Store. It trades about 0.1 of its potential returns per unit of risk. GN Store Nord is currently generating about 0.0 per unit of risk. If you would invest 11,833 in Crowdstrike Holdings on August 26, 2024 and sell it today you would earn a total of 25,393 from holding Crowdstrike Holdings or generate 214.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Crowdstrike Holdings vs. GN Store Nord
Performance |
| Timeline |
| Crowdstrike Holdings |
| GN Store Nord |
Crowdstrike Holdings and GN Store Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Crowdstrike Holdings and GN Store
The main advantage of trading using opposite Crowdstrike Holdings and GN Store positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Crowdstrike Holdings position performs unexpectedly, GN Store 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 GN Store will offset losses from the drop in GN Store's long position.| Crowdstrike Holdings vs. GigaCloud Technology Class | Crowdstrike Holdings vs. Arqit Quantum | Crowdstrike Holdings vs. Telos Corp | Crowdstrike Holdings vs. Cemtrex |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |