Correlation Between Alibaba Health and Globe Trade
Can any of the company-specific risk be diversified away by investing in both Alibaba Health and Globe Trade 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 Alibaba Health and Globe Trade into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Alibaba Health Information and Globe Trade Centre, you can compare the effects of market volatilities on Alibaba Health and Globe Trade 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 Alibaba Health with a short position of Globe Trade. Check out your portfolio center. Please also check ongoing floating volatility patterns of Alibaba Health and Globe Trade.
Diversification Opportunities for Alibaba Health and Globe Trade
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Alibaba and Globe is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Alibaba Health Information and Globe Trade Centre in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Globe Trade Centre and Alibaba Health 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 Alibaba Health Information are associated (or correlated) with Globe Trade. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Globe Trade Centre has no effect on the direction of Alibaba Health i.e., Alibaba Health and Globe Trade go up and down completely randomly.
Pair Corralation between Alibaba Health and Globe Trade
If you would invest 340.00 in Globe Trade Centre on September 10, 2025 and sell it today you would earn a total of 0.00 from holding Globe Trade Centre or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Alibaba Health Information vs. Globe Trade Centre
Performance |
| Timeline |
| Alibaba Health Infor |
| Globe Trade Centre |
Alibaba Health and Globe Trade Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Alibaba Health and Globe Trade
The main advantage of trading using opposite Alibaba Health and Globe Trade positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Alibaba Health position performs unexpectedly, Globe Trade 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 Globe Trade will offset losses from the drop in Globe Trade's long position.| Alibaba Health vs. Sartorius Aktiengesellschaft | Alibaba Health vs. Olympus | Alibaba Health vs. bioMrieux SA | Alibaba Health vs. Shionogi Co Ltd |
| Globe Trade vs. Dream Unlimited Corp | Globe Trade vs. Sunac Services Holdings | Globe Trade vs. GOLDCREST CoLtd | Globe Trade vs. NewRiver REIT plc |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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