Correlation Between GEN Restaurant and BOEING
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By analyzing existing cross correlation between GEN Restaurant Group, and BOEING CO, you can compare the effects of market volatilities on GEN Restaurant and BOEING 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 GEN Restaurant with a short position of BOEING. Check out your portfolio center. Please also check ongoing floating volatility patterns of GEN Restaurant and BOEING.
Diversification Opportunities for GEN Restaurant and BOEING
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between GEN and BOEING is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding GEN Restaurant Group, and BOEING CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOEING CO and GEN Restaurant 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 GEN Restaurant Group, are associated (or correlated) with BOEING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOEING CO has no effect on the direction of GEN Restaurant i.e., GEN Restaurant and BOEING go up and down completely randomly.
Pair Corralation between GEN Restaurant and BOEING
Given the investment horizon of 90 days GEN Restaurant Group, is expected to generate 4.27 times more return on investment than BOEING. However, GEN Restaurant is 4.27 times more volatile than BOEING CO. It trades about 0.02 of its potential returns per unit of risk. BOEING CO is currently generating about -0.02 per unit of risk. If you would invest 783.00 in GEN Restaurant Group, on August 25, 2024 and sell it today you would lose (6.00) from holding GEN Restaurant Group, or give up 0.77% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.57% |
| Values | Daily Returns |
GEN Restaurant Group, vs. BOEING CO
Performance |
| Timeline |
| GEN Restaurant Group, |
| BOEING CO |
GEN Restaurant and BOEING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GEN Restaurant and BOEING
The main advantage of trading using opposite GEN Restaurant and BOEING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GEN Restaurant position performs unexpectedly, BOEING 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 BOEING will offset losses from the drop in BOEING's long position.| GEN Restaurant vs. Ultra Clean Holdings | GEN Restaurant vs. NetSol Technologies | GEN Restaurant vs. Infosys Ltd ADR | GEN Restaurant vs. Lion One Metals |
| BOEING vs. Summit Materials | BOEING vs. Minerals Technologies | BOEING vs. Griffon | BOEING vs. GEN Restaurant Group, |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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