Correlation Between Hsbc Treasury and Glg Intl
Can any of the company-specific risk be diversified away by investing in both Hsbc Treasury and Glg Intl 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 Hsbc Treasury and Glg Intl into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Hsbc Treasury Money and Glg Intl Small, you can compare the effects of market volatilities on Hsbc Treasury and Glg Intl 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 Hsbc Treasury with a short position of Glg Intl. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hsbc Treasury and Glg Intl.
Diversification Opportunities for Hsbc Treasury and Glg Intl
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Hsbc and Glg is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Hsbc Treasury Money and Glg Intl Small in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Glg Intl Small and Hsbc Treasury 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 Hsbc Treasury Money are associated (or correlated) with Glg Intl. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Glg Intl Small has no effect on the direction of Hsbc Treasury i.e., Hsbc Treasury and Glg Intl go up and down completely randomly.
Pair Corralation between Hsbc Treasury and Glg Intl
If you would invest 8,346 in Glg Intl Small on November 3, 2024 and sell it today you would earn a total of 565.00 from holding Glg Intl Small or generate 6.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Hsbc Treasury Money vs. Glg Intl Small
Performance |
| Timeline |
| Hsbc Treasury Money |
| Glg Intl Small |
Hsbc Treasury and Glg Intl Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hsbc Treasury and Glg Intl
The main advantage of trading using opposite Hsbc Treasury and Glg Intl positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hsbc Treasury position performs unexpectedly, Glg Intl 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 Glg Intl will offset losses from the drop in Glg Intl's long position.| Hsbc Treasury vs. Angel Oak Financial | Hsbc Treasury vs. 1919 Financial Services | Hsbc Treasury vs. Transamerica Financial Life | Hsbc Treasury vs. Goldman Sachs Financial |
| Glg Intl vs. Hunter Small Cap | Glg Intl vs. Ab Small Cap | Glg Intl vs. Df Dent Small | Glg Intl vs. Needham Small Cap |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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