Correlation Between Guardforce and Kaltura
Can any of the company-specific risk be diversified away by investing in both Guardforce and Kaltura 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 Kaltura 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 Kaltura, you can compare the effects of market volatilities on Guardforce and Kaltura 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 Kaltura. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guardforce and Kaltura.
Diversification Opportunities for Guardforce and Kaltura
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Guardforce and Kaltura is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Guardforce AI Co and Kaltura in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kaltura 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 Kaltura. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kaltura has no effect on the direction of Guardforce i.e., Guardforce and Kaltura go up and down completely randomly.
Pair Corralation between Guardforce and Kaltura
Assuming the 90 days horizon Guardforce AI Co is expected to generate 7.88 times more return on investment than Kaltura. However, Guardforce is 7.88 times more volatile than Kaltura. It trades about 0.15 of its potential returns per unit of risk. Kaltura is currently generating about 0.26 per unit of risk. If you would invest 14.00 in Guardforce AI Co on September 19, 2024 and sell it today you would earn a total of 12.36 from holding Guardforce AI Co or generate 88.29% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 92.86% |
| Values | Daily Returns |
Guardforce AI Co vs. Kaltura
Performance |
| Timeline |
| Guardforce AI |
| Kaltura |
Guardforce and Kaltura Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guardforce and Kaltura
The main advantage of trading using opposite Guardforce and Kaltura positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guardforce position performs unexpectedly, Kaltura 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 Kaltura will offset losses from the drop in Kaltura's long position.| 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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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