Correlation Between Genius Sports and PropertyGuru

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

Diversification Opportunities for Genius Sports and PropertyGuru

0.0
  Correlation Coefficient

Pay attention - limited upside

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

Pair Corralation between Genius Sports and PropertyGuru

If you would invest  484.00  in Genius Sports on November 19, 2024 and sell it today you would earn a total of  499.00  from holding Genius Sports or generate 103.1% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

Genius Sports  vs.  PropertyGuru Group

 Performance 
       Timeline  
Genius Sports 

Risk-Adjusted Performance

Insignificant

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Genius Sports are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite fairly weak basic indicators, Genius Sports may actually be approaching a critical reversion point that can send shares even higher in March 2025.
PropertyGuru Group 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days PropertyGuru Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, PropertyGuru is not utilizing all of its potentials. The current stock price uproar, may contribute to short-horizon losses for the private investors.

Genius Sports and PropertyGuru Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Genius Sports and PropertyGuru

The main advantage of trading using opposite Genius Sports and PropertyGuru positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genius Sports position performs unexpectedly, PropertyGuru 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 PropertyGuru will offset losses from the drop in PropertyGuru's long position.
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The idea behind Genius Sports and PropertyGuru Group 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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.

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