Correlation Between Gabriel Holding and Nordinvestments

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Can any of the company-specific risk be diversified away by investing in both Gabriel Holding and Nordinvestments 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 Nordinvestments into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gabriel Holding and Nordinvestments AS, you can compare the effects of market volatilities on Gabriel Holding and Nordinvestments 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 Nordinvestments. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gabriel Holding and Nordinvestments.

Diversification Opportunities for Gabriel Holding and Nordinvestments

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Gabriel and Nordinvestments is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Gabriel Holding and Nordinvestments AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nordinvestments AS 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 Nordinvestments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nordinvestments AS has no effect on the direction of Gabriel Holding i.e., Gabriel Holding and Nordinvestments go up and down completely randomly.

Pair Corralation between Gabriel Holding and Nordinvestments

If you would invest  123.00  in Nordinvestments AS on August 25, 2024 and sell it today you would earn a total of  0.00  from holding Nordinvestments AS or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy95.65%
ValuesDaily Returns

Gabriel Holding  vs.  Nordinvestments AS

 Performance 
       Timeline  
Gabriel Holding 

Risk-Adjusted Performance

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Over the last 90 days Gabriel Holding has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unfluctuating performance in the last few months, the Stock's basic indicators remain very healthy which may send shares a bit higher in December 2024. The recent disarray may also be a sign of long period up-swing for the firm investors.
Nordinvestments AS 

Risk-Adjusted Performance

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Weak
 
Strong
Very Weak
Over the last 90 days Nordinvestments AS has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Nordinvestments is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.

Gabriel Holding and Nordinvestments Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Gabriel Holding and Nordinvestments

The main advantage of trading using opposite Gabriel Holding and Nordinvestments positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gabriel Holding position performs unexpectedly, Nordinvestments 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 Nordinvestments will offset losses from the drop in Nordinvestments' long position.
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The idea behind Gabriel Holding and Nordinvestments AS pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.

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