Correlation Between Greenlite Ventures and Church Crawford

Can any of the company-specific risk be diversified away by investing in both Greenlite Ventures and Church Crawford 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 Greenlite Ventures and Church Crawford into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Greenlite Ventures and Church Crawford, you can compare the effects of market volatilities on Greenlite Ventures and Church Crawford 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 Greenlite Ventures with a short position of Church Crawford. Check out your portfolio center. Please also check ongoing floating volatility patterns of Greenlite Ventures and Church Crawford.

Diversification Opportunities for Greenlite Ventures and Church Crawford

-0.71

Correlation Coefficient

Greenlite Ventures  Church Crawford

Pay attention - limited upside

The 3 months correlation between Greenlite and Church is -0.71. Overlapping area represents the amount of risk that can be diversified away by holding Greenlite Ventures and Church Crawford in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Church Crawford and Greenlite Ventures 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 Greenlite Ventures are associated (or correlated) with Church Crawford. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Church Crawford has no effect on the direction of Greenlite Ventures i.e., Greenlite Ventures and Church Crawford go up and down completely randomly.

Pair Corralation between Greenlite Ventures and Church Crawford

Given the investment horizon of 90 days Greenlite Ventures is expected to under-perform the Church Crawford. But the pink sheet apears to be less risky and, when comparing its historical volatility, Greenlite Ventures is 1.57 times less risky than Church Crawford. The pink sheet trades about -0.19 of its potential returns per unit of risk. The Church Crawford is currently generating about 0.17 of returns per unit of risk over similar time horizon. If you would invest  0.14  in Church Crawford on December 22, 2024 and sell it today you would earn a total of  0.29  from holding Church Crawford or generate 207.14% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Weak
Accuracy	96.77%
Values	Daily Returns

Greenlite Ventures  vs.  Church Crawford

Greenlite Ventures

Risk-Adjusted Performance

Very Weak

Over the last 90 days Greenlite Ventures has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unsteady performance in the last few months, the Stock's basic indicators remain quite persistent which may send shares a bit higher in April 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Church Crawford

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Church Crawford are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Church Crawford reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Greenlite Ventures and Church Crawford

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

The idea behind Greenlite Ventures and Church Crawford 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.