Correlation Between GA EXpress and GivBux
Can any of the company-specific risk be diversified away by investing in both GA EXpress and GivBux 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 GA EXpress and GivBux into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GA eXpress and GivBux Inc, you can compare the effects of market volatilities on GA EXpress and GivBux 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 GA EXpress with a short position of GivBux. Check out your portfolio center. Please also check ongoing floating volatility patterns of GA EXpress and GivBux.
Diversification Opportunities for GA EXpress and GivBux
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between GAEX and GivBux is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GA eXpress and GivBux Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GivBux Inc and GA EXpress 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 GA eXpress are associated (or correlated) with GivBux. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GivBux Inc has no effect on the direction of GA EXpress i.e., GA EXpress and GivBux go up and down completely randomly.
Pair Corralation between GA EXpress and GivBux
If you would invest 115.00 in GivBux Inc on December 18, 2024 and sell it today you would earn a total of 284.00 from holding GivBux Inc or generate 246.96% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 98.41% |
Values | Daily Returns |
GA eXpress vs. GivBux Inc
Performance |
Timeline |
GA eXpress |
GivBux Inc |
GA EXpress and GivBux Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with GA EXpress and GivBux
The main advantage of trading using opposite GA EXpress and GivBux positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GA EXpress position performs unexpectedly, GivBux 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 GivBux will offset losses from the drop in GivBux's long position.GA EXpress vs. GuestLogix | GA EXpress vs. GivBux Inc | GA EXpress vs. Forecastagility | GA EXpress vs. Rumble Inc |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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