Correlation Between Greenlite Ventures and Gemini Group

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

By analyzing existing cross correlation between Greenlite Ventures and Gemini Group Global, you can compare the effects of market volatilities on Greenlite Ventures and Gemini Group 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 Gemini Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Greenlite Ventures and Gemini Group.

Diversification Opportunities for Greenlite Ventures and Gemini Group

0.22

Correlation Coefficient

Greenlite Ventures  Gemini Group

Modest diversification

The 3 months correlation between Greenlite and Gemini is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Greenlite Ventures and Gemini Group Global in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gemini Group Global 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 Gemini Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gemini Group Global has no effect on the direction of Greenlite Ventures i.e., Greenlite Ventures and Gemini Group go up and down completely randomly.

Pair Corralation between Greenlite Ventures and Gemini Group

If you would invest  0.35  in Gemini Group Global on September 4, 2024 and sell it today you would earn a total of  0.00  from holding Gemini Group Global or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	1.56%
Values	Daily Returns

Greenlite Ventures  vs.  Gemini Group Global

Greenlite Ventures

Risk-Adjusted Performance

0 of 100

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 January 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Gemini Group Global

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days Gemini Group Global has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong basic indicators, Gemini Group is not utilizing all of its potentials. The latest stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with Greenlite Ventures and Gemini Group

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

The idea behind Greenlite Ventures and Gemini Group Global 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.