Correlation Between GBT Technologies and AgileThought

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

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

Diversification Opportunities for GBT Technologies and AgileThought

0.0

Correlation Coefficient

GBT Technologies  AgileThought

Pay attention - limited upside

The 3 months correlation between GBT and AgileThought is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GBT Technologies and AgileThought in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AgileThought and GBT Technologies 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 GBT Technologies are associated (or correlated) with AgileThought. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AgileThought has no effect on the direction of GBT Technologies i.e., GBT Technologies and AgileThought go up and down completely randomly.

Pair Corralation between GBT Technologies and AgileThought

If you would invest  0.02  in GBT Technologies on December 30, 2024 and sell it today you would lose (0.01) from holding GBT Technologies or give up 50.0% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

GBT Technologies  vs.  AgileThought

GBT Technologies

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in GBT Technologies are ranked lower than 18 (%) of all global equities and portfolios over the last 90 days. Despite fairly weak fundamental indicators, GBT Technologies demonstrated solid returns over the last few months and may actually be approaching a breakup point.

AgileThought

Risk-Adjusted Performance

Very Weak

Over the last 90 days AgileThought has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of fairly stable essential indicators, AgileThought is not utilizing all of its potentials. The current stock price fuss, may contribute to near-short-term losses for the sophisticated investors.

Pair Trading with GBT Technologies and AgileThought

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

The idea behind GBT Technologies and AgileThought 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .