Correlation Between GACM Technologies and JNK India
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By analyzing existing cross correlation between GACM Technologies Limited and JNK India, you can compare the effects of market volatilities on GACM Technologies and JNK India 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 JNK India. Check out your portfolio center. Please also check ongoing floating volatility patterns of GACM Technologies and JNK India.
Diversification Opportunities for GACM Technologies and JNK India
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between GACM and JNK is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding GACM Technologies Limited and JNK India in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on JNK India 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 JNK India. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of JNK India has no effect on the direction of GACM Technologies i.e., GACM Technologies and JNK India go up and down completely randomly.
Pair Corralation between GACM Technologies and JNK India
Assuming the 90 days trading horizon GACM Technologies Limited is expected to generate 1.13 times more return on investment than JNK India. However, GACM Technologies is 1.13 times more volatile than JNK India. It trades about -0.01 of its potential returns per unit of risk. JNK India is currently generating about -0.1 per unit of risk. If you would invest 52.00 in GACM Technologies Limited on September 2, 2025 and sell it today you would lose (2.00) from holding GACM Technologies Limited or give up 3.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
GACM Technologies Limited vs. JNK India
Performance |
| Timeline |
| GACM Technologies |
| JNK India |
GACM Technologies and JNK India Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GACM Technologies and JNK India
The main advantage of trading using opposite GACM Technologies and JNK India positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GACM Technologies position performs unexpectedly, JNK India 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 JNK India will offset losses from the drop in JNK India's long position.| GACM Technologies vs. Infomedia Press Limited | GACM Technologies vs. HT Media Limited | GACM Technologies vs. Niraj Ispat Industries | GACM Technologies vs. Computer Age Management |
| JNK India vs. VIP Clothing Limited | JNK India vs. The Hi Tech Gears | JNK India vs. Indian Card Clothing | JNK India vs. Zodiac Clothing |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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