Correlation Between GreenPro Capital and Intelligent Group
Can any of the company-specific risk be diversified away by investing in both GreenPro Capital and Intelligent Group 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 GreenPro Capital and Intelligent Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GreenPro Capital Corp and Intelligent Group Limited, you can compare the effects of market volatilities on GreenPro Capital and Intelligent Group 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 GreenPro Capital with a short position of Intelligent Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of GreenPro Capital and Intelligent Group.
Diversification Opportunities for GreenPro Capital and Intelligent Group
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GreenPro and Intelligent is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding GreenPro Capital Corp and Intelligent Group Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intelligent Group and GreenPro Capital 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 GreenPro Capital Corp are associated (or correlated) with Intelligent Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intelligent Group has no effect on the direction of GreenPro Capital i.e., GreenPro Capital and Intelligent Group go up and down completely randomly.
Pair Corralation between GreenPro Capital and Intelligent Group
Given the investment horizon of 90 days GreenPro Capital Corp is expected to under-perform the Intelligent Group. In addition to that, GreenPro Capital is 1.67 times more volatile than Intelligent Group Limited. It trades about 0.0 of its total potential returns per unit of risk. Intelligent Group Limited is currently generating about 0.07 per unit of volatility. If you would invest 91.00 in Intelligent Group Limited on September 13, 2024 and sell it today you would earn a total of 5.32 from holding Intelligent Group Limited or generate 5.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
GreenPro Capital Corp vs. Intelligent Group Limited
Performance |
| Timeline |
| GreenPro Capital Corp |
| Intelligent Group |
GreenPro Capital and Intelligent Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GreenPro Capital and Intelligent Group
The main advantage of trading using opposite GreenPro Capital and Intelligent Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GreenPro Capital position performs unexpectedly, Intelligent Group 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 Intelligent Group will offset losses from the drop in Intelligent Group's long position.| GreenPro Capital vs. Resources Connection | GreenPro Capital vs. Huron Consulting Group | GreenPro Capital vs. Equifax | GreenPro Capital vs. Booz Allen Hamilton |
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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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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