Correlation Between Gamatronic Electronic and IBI Mutual
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By analyzing existing cross correlation between Gamatronic Electronic Industries and IBI Mutual Funds, you can compare the effects of market volatilities on Gamatronic Electronic and IBI Mutual 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 Gamatronic Electronic with a short position of IBI Mutual. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gamatronic Electronic and IBI Mutual.
Diversification Opportunities for Gamatronic Electronic and IBI Mutual
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Gamatronic and IBI is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Gamatronic Electronic Industri and IBI Mutual Funds in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IBI Mutual Funds and Gamatronic Electronic 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 Gamatronic Electronic Industries are associated (or correlated) with IBI Mutual. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IBI Mutual Funds has no effect on the direction of Gamatronic Electronic i.e., Gamatronic Electronic and IBI Mutual go up and down completely randomly.
Pair Corralation between Gamatronic Electronic and IBI Mutual
Assuming the 90 days trading horizon Gamatronic Electronic Industries is expected to generate 1.5 times more return on investment than IBI Mutual. However, Gamatronic Electronic is 1.5 times more volatile than IBI Mutual Funds. It trades about -0.01 of its potential returns per unit of risk. IBI Mutual Funds is currently generating about -0.07 per unit of risk. If you would invest 118,800 in Gamatronic Electronic Industries on November 28, 2024 and sell it today you would lose (1,000.00) from holding Gamatronic Electronic Industries or give up 0.84% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gamatronic Electronic Industri vs. IBI Mutual Funds
Performance |
| Timeline |
| Gamatronic Electronic |
| IBI Mutual Funds |
Gamatronic Electronic and IBI Mutual Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gamatronic Electronic and IBI Mutual
The main advantage of trading using opposite Gamatronic Electronic and IBI Mutual positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gamatronic Electronic position performs unexpectedly, IBI Mutual 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 IBI Mutual will offset losses from the drop in IBI Mutual's long position.The idea behind Gamatronic Electronic Industries and IBI Mutual Funds 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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