Correlation Between Green Stream and Atlantic Wind
Can any of the company-specific risk be diversified away by investing in both Green Stream and Atlantic Wind 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 Green Stream and Atlantic Wind into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Green Stream Holdings and Atlantic Wind Solar, you can compare the effects of market volatilities on Green Stream and Atlantic Wind 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 Green Stream with a short position of Atlantic Wind. Check out your portfolio center. Please also check ongoing floating volatility patterns of Green Stream and Atlantic Wind.
Diversification Opportunities for Green Stream and Atlantic Wind
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Green and Atlantic is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Green Stream Holdings and Atlantic Wind Solar in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atlantic Wind Solar and Green Stream 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 Green Stream Holdings are associated (or correlated) with Atlantic Wind. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atlantic Wind Solar has no effect on the direction of Green Stream i.e., Green Stream and Atlantic Wind go up and down completely randomly.
Pair Corralation between Green Stream and Atlantic Wind
Given the investment horizon of 90 days Green Stream Holdings is expected to generate 12.92 times more return on investment than Atlantic Wind. However, Green Stream is 12.92 times more volatile than Atlantic Wind Solar. It trades about 0.14 of its potential returns per unit of risk. Atlantic Wind Solar is currently generating about 0.03 per unit of risk. If you would invest 0.01 in Green Stream Holdings on August 31, 2024 and sell it today you would earn a total of 0.00 from holding Green Stream Holdings or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Green Stream Holdings vs. Atlantic Wind Solar
Performance |
| Timeline |
| Green Stream Holdings |
| Atlantic Wind Solar |
Green Stream and Atlantic Wind Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Green Stream and Atlantic Wind
The main advantage of trading using opposite Green Stream and Atlantic Wind positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Green Stream position performs unexpectedly, Atlantic Wind 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 Atlantic Wind will offset losses from the drop in Atlantic Wind's long position.| Green Stream vs. Constellation Energy Corp | Green Stream vs. Orsted AS ADR | Green Stream vs. Orsted AS | Green Stream vs. HUMANA INC |
| Atlantic Wind vs. Green Stream Holdings | Atlantic Wind vs. VirExit Technologies | Atlantic Wind vs. Clean Vision Corp | Atlantic Wind vs. SolarWindow Technologies |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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