Correlation Between Genting Berhad and GreenPower
Can any of the company-specific risk be diversified away by investing in both Genting Berhad and GreenPower 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 Genting Berhad and GreenPower into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Genting Berhad and GreenPower Motor, you can compare the effects of market volatilities on Genting Berhad and GreenPower 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 Genting Berhad with a short position of GreenPower. Check out your portfolio center. Please also check ongoing floating volatility patterns of Genting Berhad and GreenPower.
Diversification Opportunities for Genting Berhad and GreenPower
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Genting and GreenPower is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Genting Berhad and GreenPower Motor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GreenPower Motor and Genting Berhad 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 Genting Berhad are associated (or correlated) with GreenPower. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GreenPower Motor has no effect on the direction of Genting Berhad i.e., Genting Berhad and GreenPower go up and down completely randomly.
Pair Corralation between Genting Berhad and GreenPower
If you would invest 77.00 in Genting Berhad on September 4, 2025 and sell it today you would earn a total of 0.00 from holding Genting Berhad or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Genting Berhad vs. GreenPower Motor
Performance |
| Timeline |
| Genting Berhad |
| GreenPower Motor |
Genting Berhad and GreenPower Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Genting Berhad and GreenPower
The main advantage of trading using opposite Genting Berhad and GreenPower positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genting Berhad position performs unexpectedly, GreenPower 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 GreenPower will offset losses from the drop in GreenPower's long position.| Genting Berhad vs. China Petroleum Chemical | Genting Berhad vs. Silicon Motion Technology | Genting Berhad vs. Malaga Financial | Genting Berhad vs. Aldel Financial II |
| GreenPower vs. Host Hotels Resorts | GreenPower vs. Amkor Technology | GreenPower vs. Pacific Online Limited | GreenPower vs. Lamar Advertising |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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