Correlation Between GACM Technologies and Delta Manufacturing
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By analyzing existing cross correlation between GACM Technologies Limited and Delta Manufacturing Limited, you can compare the effects of market volatilities on GACM Technologies and Delta Manufacturing 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 GACM Technologies with a short position of Delta Manufacturing. Check out your portfolio center. Please also check ongoing floating volatility patterns of GACM Technologies and Delta Manufacturing.
Diversification Opportunities for GACM Technologies and Delta Manufacturing
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between GACM and Delta is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding GACM Technologies Limited and Delta Manufacturing Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Delta Manufacturing and GACM Technologies 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 GACM Technologies Limited are associated (or correlated) with Delta Manufacturing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Delta Manufacturing has no effect on the direction of GACM Technologies i.e., GACM Technologies and Delta Manufacturing go up and down completely randomly.
Pair Corralation between GACM Technologies and Delta Manufacturing
Assuming the 90 days trading horizon GACM Technologies Limited is expected to generate 1.1 times more return on investment than Delta Manufacturing. However, GACM Technologies is 1.1 times more volatile than Delta Manufacturing Limited. It trades about 0.1 of its potential returns per unit of risk. Delta Manufacturing Limited is currently generating about -0.07 per unit of risk. If you would invest 44.00 in GACM Technologies Limited on August 18, 2025 and sell it today you would earn a total of 7.00 from holding GACM Technologies Limited or generate 15.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
GACM Technologies Limited vs. Delta Manufacturing Limited
Performance |
| Timeline |
| GACM Technologies |
| Delta Manufacturing |
GACM Technologies and Delta Manufacturing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GACM Technologies and Delta Manufacturing
The main advantage of trading using opposite GACM Technologies and Delta Manufacturing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GACM Technologies position performs unexpectedly, Delta Manufacturing 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 Delta Manufacturing will offset losses from the drop in Delta Manufacturing's long position.| GACM Technologies vs. Bigbloc Construction Limited | GACM Technologies vs. AXISCADES Technologies Limited | GACM Technologies vs. KNR Constructions Limited | GACM Technologies vs. Advanced Enzyme Technologies |
| Delta Manufacturing vs. Tamilnadu Telecommunication Limited | Delta Manufacturing vs. Royal Orchid Hotels | Delta Manufacturing vs. SINCLAIRS HOTELS ORD | Delta Manufacturing vs. Garware Hi Tech Films |
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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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