Correlation Between Guardforce and Guardforce
Can any of the company-specific risk be diversified away by investing in both Guardforce and Guardforce 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 Guardforce and Guardforce into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Guardforce AI Co and Guardforce AI Co, you can compare the effects of market volatilities on Guardforce and Guardforce 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 Guardforce with a short position of Guardforce. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guardforce and Guardforce.
Diversification Opportunities for Guardforce and Guardforce
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Guardforce and Guardforce is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Guardforce AI Co and Guardforce AI Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guardforce AI and Guardforce 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 Guardforce AI Co are associated (or correlated) with Guardforce. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guardforce AI has no effect on the direction of Guardforce i.e., Guardforce and Guardforce go up and down completely randomly.
Pair Corralation between Guardforce and Guardforce
Given the investment horizon of 90 days Guardforce AI Co is expected to generate 0.69 times more return on investment than Guardforce. However, Guardforce AI Co is 1.46 times less risky than Guardforce. It trades about 0.22 of its potential returns per unit of risk. Guardforce AI Co is currently generating about 0.09 per unit of risk. If you would invest 108.00 in Guardforce AI Co on October 23, 2024 and sell it today you would earn a total of 76.00 from holding Guardforce AI Co or generate 70.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guardforce AI Co vs. Guardforce AI Co
Performance |
| Timeline |
| Guardforce AI |
| Guardforce AI |
Guardforce and Guardforce Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guardforce and Guardforce
The main advantage of trading using opposite Guardforce and Guardforce positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guardforce position performs unexpectedly, Guardforce 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 Guardforce will offset losses from the drop in Guardforce's long position.| Guardforce vs. Iveda Solutions | Guardforce vs. Bridger Aerospace Group | Guardforce vs. Supercom | Guardforce vs. Guardforce AI Co |
| Guardforce vs. Inspira Technologies Oxy | Guardforce vs. American Rebel Holdings | Guardforce vs. TC BioPharm plc | Guardforce vs. bioAffinity Technologies Warrant |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Stocks Directory Find actively traded stocks across global markets |