Correlation Between JSC Halyk and G III
Can any of the company-specific risk be diversified away by investing in both JSC Halyk and G III 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 JSC Halyk and G III into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JSC Halyk bank and G III Apparel Group, you can compare the effects of market volatilities on JSC Halyk and G III 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 JSC Halyk with a short position of G III. Check out your portfolio center. Please also check ongoing floating volatility patterns of JSC Halyk and G III.
Diversification Opportunities for JSC Halyk and G III
Weak diversification
The 3 months correlation between JSC and GI4 is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding JSC Halyk bank and G III Apparel Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G III Apparel and JSC Halyk 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 JSC Halyk bank are associated (or correlated) with G III. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G III Apparel has no effect on the direction of JSC Halyk i.e., JSC Halyk and G III go up and down completely randomly.
Pair Corralation between JSC Halyk and G III
Assuming the 90 days trading horizon JSC Halyk bank is expected to generate 1.69 times more return on investment than G III. However, JSC Halyk is 1.69 times more volatile than G III Apparel Group. It trades about 0.07 of its potential returns per unit of risk. G III Apparel Group is currently generating about -0.21 per unit of risk. If you would invest 1,900 in JSC Halyk bank on October 25, 2024 and sell it today you would earn a total of 50.00 from holding JSC Halyk bank or generate 2.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
JSC Halyk bank vs. G III Apparel Group
Performance |
| Timeline |
| JSC Halyk bank |
| G III Apparel |
JSC Halyk and G III Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JSC Halyk and G III
The main advantage of trading using opposite JSC Halyk and G III positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JSC Halyk position performs unexpectedly, G III 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 III will offset losses from the drop in G III's long position.| JSC Halyk vs. Entravision Communications | JSC Halyk vs. BII Railway Transportation | JSC Halyk vs. Yuexiu Transport Infrastructure | JSC Halyk vs. Chengdu PUTIAN Telecommunications |
| G III vs. Magnachip Semiconductor | G III vs. JSC Halyk bank | G III vs. CDN IMPERIAL BANK | G III vs. Sun Life Financial |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |