Correlation Between GACM Technologies and COSMO FIRST
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By analyzing existing cross correlation between GACM Technologies Limited and COSMO FIRST LIMITED, you can compare the effects of market volatilities on GACM Technologies and COSMO FIRST 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 GACM Technologies with a short position of COSMO FIRST. Check out your portfolio center. Please also check ongoing floating volatility patterns of GACM Technologies and COSMO FIRST.
Diversification Opportunities for GACM Technologies and COSMO FIRST
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between GACM and COSMO is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding GACM Technologies Limited and COSMO FIRST LIMITED in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on COSMO FIRST LIMITED and GACM 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 GACM Technologies Limited are associated (or correlated) with COSMO FIRST. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of COSMO FIRST LIMITED has no effect on the direction of GACM Technologies i.e., GACM Technologies and COSMO FIRST go up and down completely randomly.
Pair Corralation between GACM Technologies and COSMO FIRST
Assuming the 90 days trading horizon GACM Technologies Limited is expected to under-perform the COSMO FIRST. But the stock apears to be less risky and, when comparing its historical volatility, GACM Technologies Limited is 1.12 times less risky than COSMO FIRST. The stock trades about -0.19 of its potential returns per unit of risk. The COSMO FIRST LIMITED is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 60,295 in COSMO FIRST LIMITED on April 23, 2025 and sell it today you would earn a total of 51,805 from holding COSMO FIRST LIMITED or generate 85.92% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
GACM Technologies Limited vs. COSMO FIRST LIMITED
Performance |
Timeline |
GACM Technologies |
COSMO FIRST LIMITED |
GACM Technologies and COSMO FIRST Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with GACM Technologies and COSMO FIRST
The main advantage of trading using opposite GACM Technologies and COSMO FIRST positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GACM Technologies position performs unexpectedly, COSMO FIRST 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 COSMO FIRST will offset losses from the drop in COSMO FIRST's long position.GACM Technologies vs. Royal Orchid Hotels | GACM Technologies vs. Transport of | GACM Technologies vs. Oriental Hotels Limited | GACM Technologies vs. Hindware Home Innovation |
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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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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