Correlation Between GBT Technologies and AgileThought
Can any of the company-specific risk be diversified away by investing in both GBT Technologies and AgileThought 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 GBT Technologies and AgileThought into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GBT Technologies and AgileThought, you can compare the effects of market volatilities on GBT Technologies and AgileThought 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 GBT Technologies with a short position of AgileThought. Check out your portfolio center. Please also check ongoing floating volatility patterns of GBT Technologies and AgileThought.
Diversification Opportunities for GBT Technologies and AgileThought
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between GBT and AgileThought is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding GBT Technologies and AgileThought in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AgileThought and GBT Technologies 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 GBT Technologies are associated (or correlated) with AgileThought. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AgileThought has no effect on the direction of GBT Technologies i.e., GBT Technologies and AgileThought go up and down completely randomly.
Pair Corralation between GBT Technologies and AgileThought
If you would invest 0.01 in GBT Technologies on August 28, 2024 and sell it today you would earn a total of 0.00 from holding GBT Technologies or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 1.59% |
| Values | Daily Returns |
GBT Technologies vs. AgileThought
Performance |
| Timeline |
| GBT Technologies |
| AgileThought |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
GBT Technologies and AgileThought Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GBT Technologies and AgileThought
The main advantage of trading using opposite GBT Technologies and AgileThought positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GBT Technologies position performs unexpectedly, AgileThought 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 AgileThought will offset losses from the drop in AgileThought's long position.| GBT Technologies vs. SEATech Ventures Corp | GBT Technologies vs. Alternet Systems | GBT Technologies vs. Crypto Co | GBT Technologies vs. Xalles Holdings |
| AgileThought vs. Katapult Holdings Equity | AgileThought vs. Arqit Quantum Warrants | AgileThought vs. AvePoint |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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