Correlation Between GDI Integrated and RB Global
Can any of the company-specific risk be diversified away by investing in both GDI Integrated and RB Global 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 GDI Integrated and RB Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GDI Integrated and RB Global, you can compare the effects of market volatilities on GDI Integrated and RB Global 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 GDI Integrated with a short position of RB Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of GDI Integrated and RB Global.
Diversification Opportunities for GDI Integrated and RB Global
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between GDI and RBA is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding GDI Integrated and RB Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RB Global and GDI Integrated 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 GDI Integrated are associated (or correlated) with RB Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RB Global has no effect on the direction of GDI Integrated i.e., GDI Integrated and RB Global go up and down completely randomly.
Pair Corralation between GDI Integrated and RB Global
Assuming the 90 days trading horizon GDI Integrated is expected to generate 2.73 times more return on investment than RB Global. However, GDI Integrated is 2.73 times more volatile than RB Global. It trades about 0.12 of its potential returns per unit of risk. RB Global is currently generating about 0.2 per unit of risk. If you would invest 2,900 in GDI Integrated on November 7, 2025 and sell it today you would earn a total of 669.00 from holding GDI Integrated or generate 23.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.39% |
| Values | Daily Returns |
GDI Integrated vs. RB Global
Performance |
| Timeline |
| GDI Integrated |
| RB Global |
GDI Integrated and RB Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GDI Integrated and RB Global
The main advantage of trading using opposite GDI Integrated and RB Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GDI Integrated position performs unexpectedly, RB Global 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 RB Global will offset losses from the drop in RB Global's long position.| GDI Integrated vs. Dexterra Group | GDI Integrated vs. K Bro Linen | GDI Integrated vs. Calian Technologies | GDI Integrated vs. Algoma Central |
| RB Global vs. Global Payments | RB Global vs. UL Solutions | RB Global vs. FTAI Aviation | RB Global vs. Rentokil Initial PLC |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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