Correlation Between GACM Technologies and DSJ Keep
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By analyzing existing cross correlation between GACM Technologies Limited and DSJ Keep Learning, you can compare the effects of market volatilities on GACM Technologies and DSJ Keep 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 GACM Technologies with a short position of DSJ Keep. Check out your portfolio center. Please also check ongoing floating volatility patterns of GACM Technologies and DSJ Keep.
Diversification Opportunities for GACM Technologies and DSJ Keep
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GACM and DSJ is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding GACM Technologies Limited and DSJ Keep Learning in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DSJ Keep Learning and GACM Technologies 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 GACM Technologies Limited are associated (or correlated) with DSJ Keep. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DSJ Keep Learning has no effect on the direction of GACM Technologies i.e., GACM Technologies and DSJ Keep go up and down completely randomly.
Pair Corralation between GACM Technologies and DSJ Keep
Assuming the 90 days trading horizon GACM Technologies Limited is expected to under-perform the DSJ Keep. But the stock apears to be less risky and, when comparing its historical volatility, GACM Technologies Limited is 1.06 times less risky than DSJ Keep. The stock trades about -0.26 of its potential returns per unit of risk. The DSJ Keep Learning is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 300.00 in DSJ Keep Learning on August 25, 2024 and sell it today you would earn a total of 166.00 from holding DSJ Keep Learning or generate 55.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.87% |
| Values | Daily Returns |
GACM Technologies Limited vs. DSJ Keep Learning
Performance |
| Timeline |
| GACM Technologies |
| DSJ Keep Learning |
GACM Technologies and DSJ Keep Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GACM Technologies and DSJ Keep
The main advantage of trading using opposite GACM Technologies and DSJ Keep positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GACM Technologies position performs unexpectedly, DSJ Keep 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 DSJ Keep will offset losses from the drop in DSJ Keep's long position.| GACM Technologies vs. AVALON TECHNOLOGIES LTD | GACM Technologies vs. VA Tech Wabag | GACM Technologies vs. Blue Coast Hotels | GACM Technologies vs. Kamat Hotels Limited |
| DSJ Keep vs. Sonata Software Limited | DSJ Keep vs. Vishnu Chemicals Limited | DSJ Keep vs. Thirumalai Chemicals Limited | DSJ Keep vs. Pondy Oxides Chemicals |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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