Correlation Between Ag Growth and Zedcor Energy
Can any of the company-specific risk be diversified away by investing in both Ag Growth and Zedcor Energy 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 Ag Growth and Zedcor Energy into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ag Growth International and Zedcor Energy, you can compare the effects of market volatilities on Ag Growth and Zedcor Energy 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 Ag Growth with a short position of Zedcor Energy. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ag Growth and Zedcor Energy.
Diversification Opportunities for Ag Growth and Zedcor Energy
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between AFN and Zedcor is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Ag Growth International and Zedcor Energy in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zedcor Energy and Ag Growth 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 Ag Growth International are associated (or correlated) with Zedcor Energy. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zedcor Energy has no effect on the direction of Ag Growth i.e., Ag Growth and Zedcor Energy go up and down completely randomly.
Pair Corralation between Ag Growth and Zedcor Energy
Assuming the 90 days trading horizon Ag Growth International is expected to under-perform the Zedcor Energy. In addition to that, Ag Growth is 1.83 times more volatile than Zedcor Energy. It trades about -0.16 of its total potential returns per unit of risk. Zedcor Energy is currently generating about 0.18 per unit of volatility. If you would invest 442.00 in Zedcor Energy on August 27, 2025 and sell it today you would earn a total of 158.00 from holding Zedcor Energy or generate 35.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 98.41% |
| Values | Daily Returns |
Ag Growth International vs. Zedcor Energy
Performance |
| Timeline |
| Ag Growth International |
Risk-Adjusted Performance
Weakest
Weak | Strong |
| Zedcor Energy |
Ag Growth and Zedcor Energy Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ag Growth and Zedcor Energy
The main advantage of trading using opposite Ag Growth and Zedcor Energy positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ag Growth position performs unexpectedly, Zedcor Energy 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 Zedcor Energy will offset losses from the drop in Zedcor Energy's long position.| Ag Growth vs. Tree Island Steel | Ag Growth vs. Cogeco Communications | Ag Growth vs. Dream Office Real | Ag Growth vs. GreenLight Metals |
| Zedcor Energy vs. Nicola Mining | Zedcor Energy vs. Brookfield Office Properties | Zedcor Energy vs. CVS HEALTH CDR | Zedcor Energy vs. Metalero Mining Corp |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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