Correlation Between Gunkul Engineering and G Capital
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By analyzing existing cross correlation between Gunkul Engineering Public and G Capital Public, you can compare the effects of market volatilities on Gunkul Engineering and G 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 Gunkul Engineering with a short position of G Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gunkul Engineering and G Capital.
Diversification Opportunities for Gunkul Engineering and G Capital
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Gunkul and GCAP is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Gunkul Engineering Public and G Capital Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G Capital Public and Gunkul Engineering 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 Gunkul Engineering Public are associated (or correlated) with G Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G Capital Public has no effect on the direction of Gunkul Engineering i.e., Gunkul Engineering and G Capital go up and down completely randomly.
Pair Corralation between Gunkul Engineering and G Capital
Assuming the 90 days trading horizon Gunkul Engineering Public is expected to generate 57.09 times more return on investment than G Capital. However, Gunkul Engineering is 57.09 times more volatile than G Capital Public. It trades about 0.29 of its potential returns per unit of risk. G Capital Public is currently generating about -0.27 per unit of risk. If you would invest 320.00 in Gunkul Engineering Public on September 14, 2024 and sell it today you would lose (88.00) from holding Gunkul Engineering Public or give up 27.5% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 45.0% |
| Values | Daily Returns |
Gunkul Engineering Public vs. G Capital Public
Performance |
| Timeline |
| Gunkul Engineering Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| G Capital Public |
Gunkul Engineering and G Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gunkul Engineering and G Capital
The main advantage of trading using opposite Gunkul Engineering and G Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gunkul Engineering position performs unexpectedly, G 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 G Capital will offset losses from the drop in G Capital's long position.| Gunkul Engineering vs. G Capital Public | Gunkul Engineering vs. Fortune Parts Industry | Gunkul Engineering vs. Hydrotek Public | Gunkul Engineering vs. Ama Marine Public |
| G Capital vs. East Coast Furnitech | G Capital vs. Filter Vision Public | G Capital vs. Cho Thavee Public | G Capital vs. Akkhie Prakarn Public |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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