Correlation Between RecruiterCom and GEE
Can any of the company-specific risk be diversified away by investing in both RecruiterCom and GEE 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 RecruiterCom and GEE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between RecruiterCom Group and GEE Group, you can compare the effects of market volatilities on RecruiterCom and GEE 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 RecruiterCom with a short position of GEE. Check out your portfolio center. Please also check ongoing floating volatility patterns of RecruiterCom and GEE.
Diversification Opportunities for RecruiterCom and GEE
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between RecruiterCom and GEE is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding RecruiterCom Group and GEE Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GEE Group and RecruiterCom 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 RecruiterCom Group are associated (or correlated) with GEE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GEE Group has no effect on the direction of RecruiterCom i.e., RecruiterCom and GEE go up and down completely randomly.
Pair Corralation between RecruiterCom and GEE
Given the investment horizon of 90 days RecruiterCom Group is expected to generate 14.53 times more return on investment than GEE. However, RecruiterCom is 14.53 times more volatile than GEE Group. It trades about 0.05 of its potential returns per unit of risk. GEE Group is currently generating about -0.05 per unit of risk. If you would invest 698.00 in RecruiterCom Group on August 26, 2024 and sell it today you would lose (424.00) from holding RecruiterCom Group or give up 60.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 92.15% |
| Values | Daily Returns |
RecruiterCom Group vs. GEE Group
Performance |
| Timeline |
| RecruiterCom Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
| GEE Group |
RecruiterCom and GEE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with RecruiterCom and GEE
The main advantage of trading using opposite RecruiterCom and GEE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if RecruiterCom position performs unexpectedly, GEE 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 GEE will offset losses from the drop in GEE's long position.| RecruiterCom vs. The Caldwell Partners | RecruiterCom vs. Hire Technologies | RecruiterCom vs. Trucept | RecruiterCom vs. Randstad Holdings NV |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities |