Correlation Between GECI International and Atrys Health

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

By analyzing existing cross correlation between GECI International SA and Atrys Health SL, you can compare the effects of market volatilities on GECI International and Atrys Health 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 GECI International with a short position of Atrys Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of GECI International and Atrys Health.

Diversification Opportunities for GECI International and Atrys Health

0.32

Correlation Coefficient

GECI International  Atrys Health

Weak diversification

The 3 months correlation between GECI and Atrys is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding GECI International SA and Atrys Health SL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atrys Health SL and GECI International 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 GECI International SA are associated (or correlated) with Atrys Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atrys Health SL has no effect on the direction of GECI International i.e., GECI International and Atrys Health go up and down completely randomly.

Pair Corralation between GECI International and Atrys Health

Assuming the 90 days trading horizon GECI International SA is expected to under-perform the Atrys Health. In addition to that, GECI International is 1.06 times more volatile than Atrys Health SL. It trades about -0.05 of its total potential returns per unit of risk. Atrys Health SL is currently generating about 0.04 per unit of volatility. If you would invest  287.00  in Atrys Health SL on April 24, 2025 and sell it today you would earn a total of  11.00  from holding Atrys Health SL or generate 3.83% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	98.44%
Values	Daily Returns

GECI International SA  vs.  Atrys Health SL

GECI International

Risk-Adjusted Performance

Very Weak

Over the last 90 days GECI International SA has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest weak performance, the Stock's basic indicators remain invariable and the latest agitation on Wall Street may also be a sign of long-running gains for the enterprise retail investors.

Atrys Health SL

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Atrys Health SL are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of rather sound fundamental indicators, Atrys Health is not utilizing all of its potentials. The latest stock price tumult, may contribute to shorter-term losses for the shareholders.

Pair Trading with GECI International and Atrys Health

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

The idea behind GECI International SA and Atrys Health SL 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 Bonds Directory module to find actively traded corporate debentures issued by US companies.