Correlation Between TTEC Holdings and Gartner
Can any of the company-specific risk be diversified away by investing in both TTEC Holdings and Gartner 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 TTEC Holdings and Gartner into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TTEC Holdings and Gartner, you can compare the effects of market volatilities on TTEC Holdings and Gartner 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 TTEC Holdings with a short position of Gartner. Check out your portfolio center. Please also check ongoing floating volatility patterns of TTEC Holdings and Gartner.
Diversification Opportunities for TTEC Holdings and Gartner
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between TTEC and Gartner is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding TTEC Holdings and Gartner in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gartner and TTEC Holdings 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 TTEC Holdings are associated (or correlated) with Gartner. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gartner has no effect on the direction of TTEC Holdings i.e., TTEC Holdings and Gartner go up and down completely randomly.
Pair Corralation between TTEC Holdings and Gartner
Given the investment horizon of 90 days TTEC Holdings is expected to under-perform the Gartner. In addition to that, TTEC Holdings is 2.91 times more volatile than Gartner. It trades about -0.07 of its total potential returns per unit of risk. Gartner is currently generating about 0.06 per unit of volatility. If you would invest 34,255 in Gartner on August 28, 2024 and sell it today you would earn a total of 17,642 from holding Gartner or generate 51.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
TTEC Holdings vs. Gartner
Performance |
| Timeline |
| TTEC Holdings |
| Gartner |
TTEC Holdings and Gartner Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TTEC Holdings and Gartner
The main advantage of trading using opposite TTEC Holdings and Gartner positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TTEC Holdings position performs unexpectedly, Gartner 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 Gartner will offset losses from the drop in Gartner's long position.| TTEC Holdings vs. ExlService Holdings | TTEC Holdings vs. Genpact Limited | TTEC Holdings vs. ASGN Inc | TTEC Holdings vs. Science Applications International |
| Gartner vs. Data Storage Corp | Gartner vs. Usio Inc | Gartner vs. ARB IOT Group | Gartner vs. FiscalNote Holdings |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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