Correlation Between Gabriel Holding and BankInvest Optima
Can any of the company-specific risk be diversified away by investing in both Gabriel Holding and BankInvest Optima 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 Gabriel Holding and BankInvest Optima into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gabriel Holding and BankInvest Optima 10, you can compare the effects of market volatilities on Gabriel Holding and BankInvest Optima 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 Gabriel Holding with a short position of BankInvest Optima. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gabriel Holding and BankInvest Optima.
Diversification Opportunities for Gabriel Holding and BankInvest Optima
-0.78 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Gabriel and BankInvest is -0.78. Overlapping area represents the amount of risk that can be diversified away by holding Gabriel Holding and BankInvest Optima 10 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BankInvest Optima and Gabriel Holding 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 Gabriel Holding are associated (or correlated) with BankInvest Optima. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BankInvest Optima has no effect on the direction of Gabriel Holding i.e., Gabriel Holding and BankInvest Optima go up and down completely randomly.
Pair Corralation between Gabriel Holding and BankInvest Optima
Assuming the 90 days trading horizon Gabriel Holding is expected to under-perform the BankInvest Optima. In addition to that, Gabriel Holding is 14.01 times more volatile than BankInvest Optima 10. It trades about -0.17 of its total potential returns per unit of risk. BankInvest Optima 10 is currently generating about 0.19 per unit of volatility. If you would invest 13,655 in BankInvest Optima 10 on August 25, 2024 and sell it today you would earn a total of 135.00 from holding BankInvest Optima 10 or generate 0.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 60.87% |
| Values | Daily Returns |
Gabriel Holding vs. BankInvest Optima 10
Performance |
| Timeline |
| Gabriel Holding |
| BankInvest Optima |
Gabriel Holding and BankInvest Optima Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gabriel Holding and BankInvest Optima
The main advantage of trading using opposite Gabriel Holding and BankInvest Optima positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gabriel Holding position performs unexpectedly, BankInvest Optima 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 BankInvest Optima will offset losses from the drop in BankInvest Optima's long position.| Gabriel Holding vs. SP Group AS | Gabriel Holding vs. Columbus AS | Gabriel Holding vs. Schouw Co | Gabriel Holding vs. RTX AS |
| BankInvest Optima vs. MapsPeople AS | BankInvest Optima vs. Penneo AS | BankInvest Optima vs. Dataproces Group AS | BankInvest Optima vs. Orderyoyo AS |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |