Correlation Between Two Hands and GetSwift Technologies
Can any of the company-specific risk be diversified away by investing in both Two Hands and GetSwift Technologies 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 Two Hands and GetSwift Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Two Hands Corp and GetSwift Technologies Limited, you can compare the effects of market volatilities on Two Hands and GetSwift Technologies 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 Two Hands with a short position of GetSwift Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Two Hands and GetSwift Technologies.
Diversification Opportunities for Two Hands and GetSwift Technologies
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Two and GetSwift is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Two Hands Corp and GetSwift Technologies Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GetSwift Technologies and Two Hands 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 Two Hands Corp are associated (or correlated) with GetSwift Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GetSwift Technologies has no effect on the direction of Two Hands i.e., Two Hands and GetSwift Technologies go up and down completely randomly.
Pair Corralation between Two Hands and GetSwift Technologies
If you would invest 15.00 in Two Hands Corp on August 29, 2024 and sell it today you would lose (15.00) from holding Two Hands Corp or give up 100.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.34% |
| Values | Daily Returns |
Two Hands Corp vs. GetSwift Technologies Limited
Performance |
| Timeline |
| Two Hands Corp |
| GetSwift Technologies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Two Hands and GetSwift Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Two Hands and GetSwift Technologies
The main advantage of trading using opposite Two Hands and GetSwift Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Two Hands position performs unexpectedly, GetSwift Technologies 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 GetSwift Technologies will offset losses from the drop in GetSwift Technologies' long position.| Two Hands vs. Protek Capital | Two Hands vs. Bowmo Inc | Two Hands vs. AirIQ Inc | Two Hands vs. AB International Group |
| GetSwift Technologies vs. Aegon NV ADR | GetSwift Technologies vs. Freedom Holding Corp | GetSwift Technologies vs. Cedar Realty Trust | GetSwift Technologies vs. Presidio Property Trust |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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