Correlation Between Geojit Financial and GACM Technologies
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By analyzing existing cross correlation between Geojit Financial Services and GACM Technologies Limited, you can compare the effects of market volatilities on Geojit Financial and GACM Technologies 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 Geojit Financial with a short position of GACM Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Geojit Financial and GACM Technologies.
Diversification Opportunities for Geojit Financial and GACM Technologies
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Geojit and GACM is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Geojit Financial Services and GACM Technologies Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GACM Technologies and Geojit Financial 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 Geojit Financial Services are associated (or correlated) with GACM Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GACM Technologies has no effect on the direction of Geojit Financial i.e., Geojit Financial and GACM Technologies go up and down completely randomly.
Pair Corralation between Geojit Financial and GACM Technologies
Assuming the 90 days trading horizon Geojit Financial Services is expected to under-perform the GACM Technologies. In addition to that, Geojit Financial is 1.04 times more volatile than GACM Technologies Limited. It trades about -0.12 of its total potential returns per unit of risk. GACM Technologies Limited is currently generating about -0.07 per unit of volatility. If you would invest 101.00 in GACM Technologies Limited on September 2, 2024 and sell it today you would lose (6.00) from holding GACM Technologies Limited or give up 5.94% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Geojit Financial Services vs. GACM Technologies Limited
Performance |
| Timeline |
| Geojit Financial Services |
| GACM Technologies |
Geojit Financial and GACM Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Geojit Financial and GACM Technologies
The main advantage of trading using opposite Geojit Financial and GACM Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Geojit Financial position performs unexpectedly, GACM Technologies 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 GACM Technologies will offset losses from the drop in GACM Technologies' long position.| Geojit Financial vs. Nalwa Sons Investments | Geojit Financial vs. Kalyani Investment | Geojit Financial vs. Pilani Investment and | Geojit Financial vs. Vardhman Holdings Limited |
| GACM Technologies vs. Ami Organics Limited | GACM Technologies vs. Aarey Drugs Pharmaceuticals | GACM Technologies vs. HDFC Asset Management | GACM Technologies vs. Vinati Organics Limited |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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