Correlation Between GRIFFIN MINING and ATOSS Software
Can any of the company-specific risk be diversified away by investing in both GRIFFIN MINING and ATOSS Software 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 GRIFFIN MINING and ATOSS Software into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GRIFFIN MINING LTD and ATOSS Software SE, you can compare the effects of market volatilities on GRIFFIN MINING and ATOSS Software 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 GRIFFIN MINING with a short position of ATOSS Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of GRIFFIN MINING and ATOSS Software.
Diversification Opportunities for GRIFFIN MINING and ATOSS Software
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GRIFFIN and ATOSS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GRIFFIN MINING LTD and ATOSS Software SE in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATOSS Software SE and GRIFFIN MINING 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 GRIFFIN MINING LTD are associated (or correlated) with ATOSS Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATOSS Software SE has no effect on the direction of GRIFFIN MINING i.e., GRIFFIN MINING and ATOSS Software go up and down completely randomly.
Pair Corralation between GRIFFIN MINING and ATOSS Software
If you would invest 110.00 in GRIFFIN MINING LTD on December 2, 2024 and sell it today you would earn a total of 112.00 from holding GRIFFIN MINING LTD or generate 101.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.4% |
| Values | Daily Returns |
GRIFFIN MINING LTD vs. ATOSS Software SE
Performance |
| Timeline |
| GRIFFIN MINING LTD |
| ATOSS Software SE |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
GRIFFIN MINING and ATOSS Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GRIFFIN MINING and ATOSS Software
The main advantage of trading using opposite GRIFFIN MINING and ATOSS Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GRIFFIN MINING position performs unexpectedly, ATOSS Software 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 ATOSS Software will offset losses from the drop in ATOSS Software's long position.| GRIFFIN MINING vs. Cal Maine Foods | GRIFFIN MINING vs. PLANT VEDA FOODS | GRIFFIN MINING vs. GOODYEAR T RUBBER | GRIFFIN MINING vs. The Yokohama Rubber |
| ATOSS Software vs. Perseus Mining Limited | ATOSS Software vs. MCEWEN MINING INC | ATOSS Software vs. Monument Mining Limited | ATOSS Software vs. Eurasia Mining Plc |
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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