Correlation Between Georg Fischer and Kardex

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

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

Diversification Opportunities for Georg Fischer and Kardex

0.4

Correlation Coefficient

Georg Fischer  Kardex

Very weak diversification

The 3 months correlation between Georg and Kardex is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Georg Fischer AG and Kardex in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kardex and Georg Fischer 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 Georg Fischer AG are associated (or correlated) with Kardex. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kardex has no effect on the direction of Georg Fischer i.e., Georg Fischer and Kardex go up and down completely randomly.

Pair Corralation between Georg Fischer and Kardex

Assuming the 90 days horizon Georg Fischer is expected to generate 7.15 times less return on investment than Kardex. But when comparing it to its historical volatility, Georg Fischer AG is 1.05 times less risky than Kardex. It trades about 0.07 of its potential returns per unit of risk. Kardex is currently generating about 0.5 of returns per unit of risk over similar time horizon. If you would invest  19,395  in Kardex on April 24, 2025 and sell it today you would earn a total of  10,905  from holding Kardex or generate 56.23% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Weak
Accuracy	98.39%
Values	Daily Returns

Georg Fischer AG  vs.  Kardex

Georg Fischer AG

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Georg Fischer AG are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of fairly abnormal basic indicators, Georg Fischer may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Kardex

Risk-Adjusted Performance

Very Strong

Compared to the overall equity markets, risk-adjusted returns on investments in Kardex are ranked lower than 39 (%) of all global equities and portfolios over the last 90 days. In spite of fairly abnormal basic indicators, Kardex showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Georg Fischer and Kardex

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

The idea behind Georg Fischer AG and Kardex 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.