Correlation Between Blender Financial and Tadir Gan

Can any of the company-specific risk be diversified away by investing in both Blender Financial and Tadir Gan 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 Blender Financial and Tadir Gan into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Blender Financial Technologies and Tadir Gan 1993, you can compare the effects of market volatilities on Blender Financial and Tadir Gan 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 Blender Financial with a short position of Tadir Gan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blender Financial and Tadir Gan.

Diversification Opportunities for Blender Financial and Tadir Gan

0.62

Correlation Coefficient

Blender Financial  Tadir Gan

Poor diversification

The 3 months correlation between Blender and Tadir is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Blender Financial Technologies and Tadir Gan 1993 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tadir Gan 1993 and Blender Financial 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 Blender Financial Technologies are associated (or correlated) with Tadir Gan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tadir Gan 1993 has no effect on the direction of Blender Financial i.e., Blender Financial and Tadir Gan go up and down completely randomly.

Pair Corralation between Blender Financial and Tadir Gan

Assuming the 90 days trading horizon Blender Financial Technologies is expected to under-perform the Tadir Gan. But the stock apears to be less risky and, when comparing its historical volatility, Blender Financial Technologies is 1.28 times less risky than Tadir Gan. The stock trades about -0.04 of its potential returns per unit of risk. The Tadir Gan 1993 is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  23,360  in Tadir Gan 1993 on October 25, 2024 and sell it today you would lose (1,370) from holding Tadir Gan 1993 or give up 5.86% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

Blender Financial Technologies  vs.  Tadir Gan 1993

Blender Financial

Risk-Adjusted Performance

5 of 100

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Blender Financial Technologies are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, Blender Financial sustained solid returns over the last few months and may actually be approaching a breakup point.

Tadir Gan 1993

Risk-Adjusted Performance

11 of 100

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Tadir Gan 1993 are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, Tadir Gan sustained solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Blender Financial and Tadir Gan

The main advantage of trading using opposite Blender Financial and Tadir Gan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blender Financial position performs unexpectedly, Tadir Gan 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 Tadir Gan will offset losses from the drop in Tadir Gan's long position.

The idea behind Blender Financial Technologies and Tadir Gan 1993 pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.