Correlation Between Greenland Acquisition and Shapeways Holdings,

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

By analyzing existing cross correlation between Greenland Acquisition Corp and Shapeways Holdings, Common, you can compare the effects of market volatilities on Greenland Acquisition and Shapeways Holdings, 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 Greenland Acquisition with a short position of Shapeways Holdings,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Greenland Acquisition and Shapeways Holdings,.

Diversification Opportunities for Greenland Acquisition and Shapeways Holdings,

0.1

Correlation Coefficient

Greenland Acquisition  Shapeways Holdings,

Average diversification

The 3 months correlation between Greenland and Shapeways is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Greenland Acquisition Corp and Shapeways Holdings, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shapeways Holdings, and Greenland Acquisition 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 Greenland Acquisition Corp are associated (or correlated) with Shapeways Holdings,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shapeways Holdings, has no effect on the direction of Greenland Acquisition i.e., Greenland Acquisition and Shapeways Holdings, go up and down completely randomly.

Pair Corralation between Greenland Acquisition and Shapeways Holdings,

Given the investment horizon of 90 days Greenland Acquisition Corp is expected to generate 0.75 times more return on investment than Shapeways Holdings,. However, Greenland Acquisition Corp is 1.34 times less risky than Shapeways Holdings,. It trades about -0.08 of its potential returns per unit of risk. Shapeways Holdings, Common is currently generating about -0.13 per unit of risk. If you would invest  218.00  in Greenland Acquisition Corp on November 29, 2024 and sell it today you would lose (54.00) from holding Greenland Acquisition Corp or give up 24.77% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Greenland Acquisition Corp  vs.  Shapeways Holdings, Common

Greenland Acquisition

Risk-Adjusted Performance

Very Weak

Over the last 90 days Greenland Acquisition Corp has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of abnormal performance in the last few months, the Stock's technical and fundamental indicators remain rather sound which may send shares a bit higher in March 2025. The latest tumult may also be a sign of longer-term up-swing for the firm shareholders.

Shapeways Holdings,

Risk-Adjusted Performance

Very Weak

Over the last 90 days Shapeways Holdings, Common has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in March 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Pair Trading with Greenland Acquisition and Shapeways Holdings,

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

The idea behind Greenland Acquisition Corp and Shapeways Holdings, Common 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.

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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.