Correlation Between Hays Plc and Click Holdings

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

By analyzing existing cross correlation between Hays plc and Click Holdings Limited, you can compare the effects of market volatilities on Hays Plc and Click 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 Hays Plc with a short position of Click Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hays Plc and Click Holdings.

Diversification Opportunities for Hays Plc and Click Holdings

-0.21

Correlation Coefficient

Hays Plc  Click Holdings

Very good diversification

The 3 months correlation between Hays and Click is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Hays plc and Click Holdings Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Click Holdings and Hays Plc 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 Hays plc are associated (or correlated) with Click Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Click Holdings has no effect on the direction of Hays Plc i.e., Hays Plc and Click Holdings go up and down completely randomly.

Pair Corralation between Hays Plc and Click Holdings

Assuming the 90 days trading horizon Hays plc is expected to generate 0.14 times more return on investment than Click Holdings. However, Hays plc is 6.93 times less risky than Click Holdings. It trades about -0.08 of its potential returns per unit of risk. Click Holdings Limited is currently generating about -0.03 per unit of risk. If you would invest  5,851  in Hays plc on September 10, 2025 and sell it today you would lose (536.00) from holding Hays plc or give up 9.16% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	96.92%
Values	Daily Returns

Hays plc  vs.  Click Holdings Limited

Hays plc

Risk-Adjusted Performance

Weakest

Over the last 90 days Hays plc has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest uncertain performance, the Stock's technical and fundamental indicators remain sound and the latest tumult on Wall Street may also be a sign of longer-term gains for the firm shareholders.

Click Holdings

Risk-Adjusted Performance

Weakest

Over the last 90 days Click Holdings Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Despite inconsistent performance in the last few months, the Stock's forward indicators remain quite persistent which may send shares a bit higher in January 2026. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Pair Trading with Hays Plc and Click Holdings

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

The idea behind Hays plc and Click Holdings Limited 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.