Correlation Between DGL Investments and Medical Facilities
Can any of the company-specific risk be diversified away by investing in both DGL Investments and Medical Facilities 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 DGL Investments and Medical Facilities into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DGL Investments No1 and Medical Facilities, you can compare the effects of market volatilities on DGL Investments and Medical Facilities 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 DGL Investments with a short position of Medical Facilities. Check out your portfolio center. Please also check ongoing floating volatility patterns of DGL Investments and Medical Facilities.
Diversification Opportunities for DGL Investments and Medical Facilities
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DGL and Medical is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DGL Investments No1 and Medical Facilities in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Medical Facilities and DGL Investments 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 DGL Investments No1 are associated (or correlated) with Medical Facilities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Medical Facilities has no effect on the direction of DGL Investments i.e., DGL Investments and Medical Facilities go up and down completely randomly.
Pair Corralation between DGL Investments and Medical Facilities
If you would invest 1,482 in Medical Facilities on September 5, 2025 and sell it today you would earn a total of 131.00 from holding Medical Facilities or generate 8.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
DGL Investments No1 vs. Medical Facilities
Performance |
| Timeline |
| DGL Investments No1 |
| Medical Facilities |
DGL Investments and Medical Facilities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DGL Investments and Medical Facilities
The main advantage of trading using opposite DGL Investments and Medical Facilities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DGL Investments position performs unexpectedly, Medical Facilities 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 Medical Facilities will offset losses from the drop in Medical Facilities' long position.| DGL Investments vs. Brookfield Office Properties | DGL Investments vs. Gamehost | DGL Investments vs. Contagious Gaming | DGL Investments vs. Uniserve Communications Corp |
| Medical Facilities vs. DGL Investments No1 | Medical Facilities vs. 2028 Investment Grade | Medical Facilities vs. Rogers Communications | Medical Facilities vs. Primaris Retail RE |
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 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.
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