Correlation Between GlucoTrack and Liberty Broadband
Can any of the company-specific risk be diversified away by investing in both GlucoTrack and Liberty Broadband 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 GlucoTrack and Liberty Broadband into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GlucoTrack and Liberty Broadband, you can compare the effects of market volatilities on GlucoTrack and Liberty Broadband 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 GlucoTrack with a short position of Liberty Broadband. Check out your portfolio center. Please also check ongoing floating volatility patterns of GlucoTrack and Liberty Broadband.
Diversification Opportunities for GlucoTrack and Liberty Broadband
0.44 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between GlucoTrack and Liberty is 0.44. Overlapping area represents the amount of risk that can be diversified away by holding GlucoTrack and Liberty Broadband in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Liberty Broadband and GlucoTrack 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 GlucoTrack are associated (or correlated) with Liberty Broadband. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Liberty Broadband has no effect on the direction of GlucoTrack i.e., GlucoTrack and Liberty Broadband go up and down completely randomly.
Pair Corralation between GlucoTrack and Liberty Broadband
Given the investment horizon of 90 days GlucoTrack is expected to generate 5.07 times more return on investment than Liberty Broadband. However, GlucoTrack is 5.07 times more volatile than Liberty Broadband. It trades about 0.08 of its potential returns per unit of risk. Liberty Broadband is currently generating about -0.13 per unit of risk. If you would invest 532.00 in GlucoTrack on August 31, 2025 and sell it today you would earn a total of 148.00 from holding GlucoTrack or generate 27.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
GlucoTrack vs. Liberty Broadband
Performance |
| Timeline |
| GlucoTrack |
| Liberty Broadband |
GlucoTrack and Liberty Broadband Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GlucoTrack and Liberty Broadband
The main advantage of trading using opposite GlucoTrack and Liberty Broadband positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GlucoTrack position performs unexpectedly, Liberty Broadband 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 Liberty Broadband will offset losses from the drop in Liberty Broadband's long position.| GlucoTrack vs. 24SevenOffice Group AB | GlucoTrack vs. NH Foods Ltd | GlucoTrack vs. City Office REIT | GlucoTrack vs. Organic Garage |
| Liberty Broadband vs. ATT Inc | Liberty Broadband vs. Verizon Communications | Liberty Broadband vs. Deutsche Telekom AG | Liberty Broadband vs. Deutsche Telekom AG |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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