Correlation Between Gilat Satellite and JOHNSON
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By analyzing existing cross correlation between Gilat Satellite Networks and JOHNSON JOHNSON 485, you can compare the effects of market volatilities on Gilat Satellite and JOHNSON 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 Gilat Satellite with a short position of JOHNSON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gilat Satellite and JOHNSON.
Diversification Opportunities for Gilat Satellite and JOHNSON
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Gilat and JOHNSON is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Gilat Satellite Networks and JOHNSON JOHNSON 485 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JOHNSON JOHNSON 485 and Gilat Satellite 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 Gilat Satellite Networks are associated (or correlated) with JOHNSON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JOHNSON JOHNSON 485 has no effect on the direction of Gilat Satellite i.e., Gilat Satellite and JOHNSON go up and down completely randomly.
Pair Corralation between Gilat Satellite and JOHNSON
Given the investment horizon of 90 days Gilat Satellite Networks is expected to generate 2.78 times more return on investment than JOHNSON. However, Gilat Satellite is 2.78 times more volatile than JOHNSON JOHNSON 485. It trades about 0.13 of its potential returns per unit of risk. JOHNSON JOHNSON 485 is currently generating about 0.06 per unit of risk. If you would invest 615.00 in Gilat Satellite Networks on December 3, 2024 and sell it today you would earn a total of 96.00 from holding Gilat Satellite Networks or generate 15.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 82.5% |
| Values | Daily Returns |
Gilat Satellite Networks vs. JOHNSON JOHNSON 485
Performance |
| Timeline |
| Gilat Satellite Networks |
| JOHNSON JOHNSON 485 |
Gilat Satellite and JOHNSON Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gilat Satellite and JOHNSON
The main advantage of trading using opposite Gilat Satellite and JOHNSON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gilat Satellite position performs unexpectedly, JOHNSON 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 JOHNSON will offset losses from the drop in JOHNSON's long position.| Gilat Satellite vs. ADTRAN Inc | ||
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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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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