Correlation Between GACM Technologies and Sunflag Iron
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By analyzing existing cross correlation between GACM Technologies Limited and Sunflag Iron And, you can compare the effects of market volatilities on GACM Technologies and Sunflag Iron 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 Sunflag Iron. Check out your portfolio center. Please also check ongoing floating volatility patterns of GACM Technologies and Sunflag Iron.
Diversification Opportunities for GACM Technologies and Sunflag Iron
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between GACM and Sunflag is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding GACM Technologies Limited and Sunflag Iron And in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sunflag Iron And 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 Sunflag Iron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sunflag Iron And has no effect on the direction of GACM Technologies i.e., GACM Technologies and Sunflag Iron go up and down completely randomly.
Pair Corralation between GACM Technologies and Sunflag Iron
Assuming the 90 days trading horizon GACM Technologies Limited is expected to generate 1.59 times more return on investment than Sunflag Iron. However, GACM Technologies is 1.59 times more volatile than Sunflag Iron And. It trades about -0.04 of its potential returns per unit of risk. Sunflag Iron And is currently generating about -0.07 per unit of risk. If you would invest 54.00 in GACM Technologies Limited on September 5, 2025 and sell it today you would lose (4.00) from holding GACM Technologies Limited or give up 7.41% 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. Sunflag Iron And
Performance |
| Timeline |
| GACM Technologies |
| Sunflag Iron And |
GACM Technologies and Sunflag Iron Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GACM Technologies and Sunflag Iron
The main advantage of trading using opposite GACM Technologies and Sunflag Iron positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GACM Technologies position performs unexpectedly, Sunflag Iron 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 Sunflag Iron will offset losses from the drop in Sunflag Iron's long position.| GACM Technologies vs. Sunflag Iron And | GACM Technologies vs. SAL Steel Limited | GACM Technologies vs. NMDC Steel Limited | GACM Technologies vs. Punjab Chemicals Crop |
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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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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