Correlation Between InMode and GBLATL
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By analyzing existing cross correlation between InMode and GBLATL 1625 15 JAN 26, you can compare the effects of market volatilities on InMode and GBLATL 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 InMode with a short position of GBLATL. Check out your portfolio center. Please also check ongoing floating volatility patterns of InMode and GBLATL.
Diversification Opportunities for InMode and GBLATL
Good diversification
The 3 months correlation between InMode and GBLATL is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding InMode and GBLATL 1625 15 JAN 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GBLATL 1625 15 and InMode 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 InMode are associated (or correlated) with GBLATL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GBLATL 1625 15 has no effect on the direction of InMode i.e., InMode and GBLATL go up and down completely randomly.
Pair Corralation between InMode and GBLATL
Given the investment horizon of 90 days InMode is expected to generate 1.45 times more return on investment than GBLATL. However, InMode is 1.45 times more volatile than GBLATL 1625 15 JAN 26. It trades about 0.07 of its potential returns per unit of risk. GBLATL 1625 15 JAN 26 is currently generating about 0.01 per unit of risk. If you would invest 1,675 in InMode on September 12, 2024 and sell it today you would earn a total of 187.00 from holding InMode or generate 11.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 59.38% |
| Values | Daily Returns |
InMode vs. GBLATL 1625 15 JAN 26
Performance |
| Timeline |
| InMode |
| GBLATL 1625 15 |
InMode and GBLATL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with InMode and GBLATL
The main advantage of trading using opposite InMode and GBLATL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if InMode position performs unexpectedly, GBLATL 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 GBLATL will offset losses from the drop in GBLATL's long position.| InMode vs. TransMedics Group | InMode vs. Inspire Medical Systems | InMode vs. Inari Medical | InMode vs. Insulet |
| GBLATL vs. Black Hills | GBLATL vs. Kinetik Holdings | GBLATL vs. Suburban Propane Partners | GBLATL vs. Cheniere Energy Partners |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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