Correlation Between Globlex Holding and DOHOME
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By analyzing existing cross correlation between Globlex Holding Management and DOHOME, you can compare the effects of market volatilities on Globlex Holding and DOHOME 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 Globlex Holding with a short position of DOHOME. Check out your portfolio center. Please also check ongoing floating volatility patterns of Globlex Holding and DOHOME.
Diversification Opportunities for Globlex Holding and DOHOME
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Globlex and DOHOME is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Globlex Holding Management and DOHOME in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DOHOME and Globlex 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 Globlex Holding Management are associated (or correlated) with DOHOME. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DOHOME has no effect on the direction of Globlex Holding i.e., Globlex Holding and DOHOME go up and down completely randomly.
Pair Corralation between Globlex Holding and DOHOME
If you would invest 0.00 in DOHOME on November 4, 2024 and sell it today you would earn a total of 0.00 from holding DOHOME or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Globlex Holding Management vs. DOHOME
Performance |
| Timeline |
| Globlex Holding Mana |
| DOHOME |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Globlex Holding and DOHOME Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Globlex Holding and DOHOME
The main advantage of trading using opposite Globlex Holding and DOHOME positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Globlex Holding position performs unexpectedly, DOHOME 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 DOHOME will offset losses from the drop in DOHOME's long position.| Globlex Holding vs. Asia Plus Group | Globlex Holding vs. Eastern Commercial Leasing | Globlex Holding vs. Country Group Holdings | Globlex Holding vs. EMC Public |
| DOHOME vs. NSL Foods Public | DOHOME vs. S Khonkaen Foods | DOHOME vs. Moshi Moshi Retail | DOHOME vs. RB Food Supply |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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