Correlation Between US Global and Till Capital
Can any of the company-specific risk be diversified away by investing in both US Global and Till Capital 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 US Global and Till Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between US Global Investors and Till Capital, you can compare the effects of market volatilities on US Global and Till Capital 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 US Global with a short position of Till Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of US Global and Till Capital.
Diversification Opportunities for US Global and Till Capital
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between GROW and Till is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding US Global Investors and Till Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Till Capital and US Global 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 US Global Investors are associated (or correlated) with Till Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Till Capital has no effect on the direction of US Global i.e., US Global and Till Capital go up and down completely randomly.
Pair Corralation between US Global and Till Capital
If you would invest 460.00 in Till Capital on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Till Capital or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 0.68% |
| Values | Daily Returns |
US Global Investors vs. Till Capital
Performance |
| Timeline |
| US Global Investors |
| Till Capital |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
US Global and Till Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with US Global and Till Capital
The main advantage of trading using opposite US Global and Till Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if US Global position performs unexpectedly, Till Capital 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 Till Capital will offset losses from the drop in Till Capital's long position.| US Global vs. Gladstone Investment | US Global vs. PennantPark Floating Rate | US Global vs. Horizon Technology Finance | US Global vs. Stellus Capital Investment |
| Till Capital vs. Dave Busters Entertainment | Till Capital vs. Duluth Holdings | Till Capital vs. Highway Holdings Limited | Till Capital vs. PVH Corp |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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