Correlation Between TELES Informationstech and GRIFFIN MINING
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By analyzing existing cross correlation between TELES Informationstechnologien AG and GRIFFIN MINING LTD, you can compare the effects of market volatilities on TELES Informationstech and GRIFFIN MINING 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 TELES Informationstech with a short position of GRIFFIN MINING. Check out your portfolio center. Please also check ongoing floating volatility patterns of TELES Informationstech and GRIFFIN MINING.
Diversification Opportunities for TELES Informationstech and GRIFFIN MINING
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between TELES and GRIFFIN is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding TELES Informationstechnologien and GRIFFIN MINING LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GRIFFIN MINING LTD and TELES Informationstech 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 TELES Informationstechnologien AG are associated (or correlated) with GRIFFIN MINING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GRIFFIN MINING LTD has no effect on the direction of TELES Informationstech i.e., TELES Informationstech and GRIFFIN MINING go up and down completely randomly.
Pair Corralation between TELES Informationstech and GRIFFIN MINING
Assuming the 90 days trading horizon TELES Informationstechnologien AG is expected to under-perform the GRIFFIN MINING. In addition to that, TELES Informationstech is 1.86 times more volatile than GRIFFIN MINING LTD. It trades about -0.1 of its total potential returns per unit of risk. GRIFFIN MINING LTD is currently generating about 0.02 per unit of volatility. If you would invest 170.00 in GRIFFIN MINING LTD on September 3, 2024 and sell it today you would earn a total of 1.00 from holding GRIFFIN MINING LTD or generate 0.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
TELES Informationstechnologien vs. GRIFFIN MINING LTD
Performance |
| Timeline |
| TELES Informationstech |
| GRIFFIN MINING LTD |
TELES Informationstech and GRIFFIN MINING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TELES Informationstech and GRIFFIN MINING
The main advantage of trading using opposite TELES Informationstech and GRIFFIN MINING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TELES Informationstech position performs unexpectedly, GRIFFIN MINING 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 GRIFFIN MINING will offset losses from the drop in GRIFFIN MINING's long position.| TELES Informationstech vs. BOSTON BEER A | TELES Informationstech vs. Monster Beverage Corp | TELES Informationstech vs. Tsingtao Brewery | TELES Informationstech vs. MOLSON RS BEVERAGE |
| GRIFFIN MINING vs. Cardinal Health | GRIFFIN MINING vs. ALERION CLEANPOWER | GRIFFIN MINING vs. Clean Energy Fuels | GRIFFIN MINING vs. FEMALE HEALTH |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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