Correlation Between GEN Restaurant and CROWN
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By analyzing existing cross correlation between GEN Restaurant Group, and CROWN CASTLE INTERNATIONAL, you can compare the effects of market volatilities on GEN Restaurant and CROWN 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 GEN Restaurant with a short position of CROWN. Check out your portfolio center. Please also check ongoing floating volatility patterns of GEN Restaurant and CROWN.
Diversification Opportunities for GEN Restaurant and CROWN
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between GEN and CROWN is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding GEN Restaurant Group, and CROWN CASTLE INTERNATIONAL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CROWN CASTLE INTERNA and GEN Restaurant 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 GEN Restaurant Group, are associated (or correlated) with CROWN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CROWN CASTLE INTERNA has no effect on the direction of GEN Restaurant i.e., GEN Restaurant and CROWN go up and down completely randomly.
Pair Corralation between GEN Restaurant and CROWN
Given the investment horizon of 90 days GEN Restaurant Group, is expected to under-perform the CROWN. In addition to that, GEN Restaurant is 2.02 times more volatile than CROWN CASTLE INTERNATIONAL. It trades about -0.04 of its total potential returns per unit of risk. CROWN CASTLE INTERNATIONAL is currently generating about 0.11 per unit of volatility. If you would invest 6,668 in CROWN CASTLE INTERNATIONAL on September 23, 2024 and sell it today you would earn a total of 179.00 from holding CROWN CASTLE INTERNATIONAL or generate 2.68% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 85.71% |
Values | Daily Returns |
GEN Restaurant Group, vs. CROWN CASTLE INTERNATIONAL
Performance |
Timeline |
GEN Restaurant Group, |
CROWN CASTLE INTERNA |
GEN Restaurant and CROWN Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with GEN Restaurant and CROWN
The main advantage of trading using opposite GEN Restaurant and CROWN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GEN Restaurant position performs unexpectedly, CROWN 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 CROWN will offset losses from the drop in CROWN's long position.GEN Restaurant vs. Sligro Food Group | GEN Restaurant vs. Origin Materials | GEN Restaurant vs. Stepan Company | GEN Restaurant vs. Tyson Foods |
CROWN vs. GEN Restaurant Group, | CROWN vs. Dennys Corp | CROWN vs. The Wendys Co | CROWN vs. Yuexiu Transport Infrastructure |
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 CEOs Directory module to screen CEOs from public companies around the world.
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