Correlation Between Gobarto SA and Beta MWIG40TR
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By analyzing existing cross correlation between Gobarto SA and Beta mWIG40TR Portfelowy, you can compare the effects of market volatilities on Gobarto SA and Beta MWIG40TR 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 Gobarto SA with a short position of Beta MWIG40TR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gobarto SA and Beta MWIG40TR.
Diversification Opportunities for Gobarto SA and Beta MWIG40TR
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Gobarto and Beta is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Gobarto SA and Beta mWIG40TR Portfelowy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beta mWIG40TR Portfelowy and Gobarto SA 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 Gobarto SA are associated (or correlated) with Beta MWIG40TR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beta mWIG40TR Portfelowy has no effect on the direction of Gobarto SA i.e., Gobarto SA and Beta MWIG40TR go up and down completely randomly.
Pair Corralation between Gobarto SA and Beta MWIG40TR
Assuming the 90 days trading horizon Gobarto SA is expected to generate 4.46 times more return on investment than Beta MWIG40TR. However, Gobarto SA is 4.46 times more volatile than Beta mWIG40TR Portfelowy. It trades about 0.07 of its potential returns per unit of risk. Beta mWIG40TR Portfelowy is currently generating about 0.1 per unit of risk. If you would invest 820.00 in Gobarto SA on November 2, 2024 and sell it today you would earn a total of 1,810 from holding Gobarto SA or generate 220.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 98.59% |
| Values | Daily Returns |
Gobarto SA vs. Beta mWIG40TR Portfelowy
Performance |
| Timeline |
| Gobarto SA |
| Beta mWIG40TR Portfelowy |
Gobarto SA and Beta MWIG40TR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gobarto SA and Beta MWIG40TR
The main advantage of trading using opposite Gobarto SA and Beta MWIG40TR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gobarto SA position performs unexpectedly, Beta MWIG40TR 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 Beta MWIG40TR will offset losses from the drop in Beta MWIG40TR's long position.| Gobarto SA vs. Gamedust SA | Gobarto SA vs. LSI Software SA | Gobarto SA vs. Drago entertainment SA | Gobarto SA vs. CI Games SA |
| Beta MWIG40TR vs. Beta ETF Nasdaq 100 | Beta MWIG40TR vs. Beta ETF Nasdaq 100 | Beta MWIG40TR vs. Beta WIG20TR Portfelowy | Beta MWIG40TR vs. Beta ETF WIG20Short |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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