Correlation Between Geekco Technologies and Snipp Interactive
Can any of the company-specific risk be diversified away by investing in both Geekco Technologies and Snipp Interactive 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 Geekco Technologies and Snipp Interactive into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Geekco Technologies Corp and Snipp Interactive, you can compare the effects of market volatilities on Geekco Technologies and Snipp Interactive 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 Geekco Technologies with a short position of Snipp Interactive. Check out your portfolio center. Please also check ongoing floating volatility patterns of Geekco Technologies and Snipp Interactive.
Diversification Opportunities for Geekco Technologies and Snipp Interactive
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Geekco and Snipp is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Geekco Technologies Corp and Snipp Interactive in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Snipp Interactive and Geekco 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 Geekco Technologies Corp are associated (or correlated) with Snipp Interactive. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Snipp Interactive has no effect on the direction of Geekco Technologies i.e., Geekco Technologies and Snipp Interactive go up and down completely randomly.
Pair Corralation between Geekco Technologies and Snipp Interactive
Assuming the 90 days horizon Geekco Technologies Corp is expected to generate 2.59 times more return on investment than Snipp Interactive. However, Geekco Technologies is 2.59 times more volatile than Snipp Interactive. It trades about 0.06 of its potential returns per unit of risk. Snipp Interactive is currently generating about -0.01 per unit of risk. If you would invest 4.50 in Geekco Technologies Corp on September 4, 2025 and sell it today you would earn a total of 0.00 from holding Geekco Technologies Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Geekco Technologies Corp vs. Snipp Interactive
Performance |
| Timeline |
| Geekco Technologies Corp |
| Snipp Interactive |
Geekco Technologies and Snipp Interactive Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Geekco Technologies and Snipp Interactive
The main advantage of trading using opposite Geekco Technologies and Snipp Interactive positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Geekco Technologies position performs unexpectedly, Snipp Interactive 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 Snipp Interactive will offset losses from the drop in Snipp Interactive's long position.| Geekco Technologies vs. Bird Construction | Geekco Technologies vs. Dream Industrial Real | Geekco Technologies vs. Organto Foods Incorporated | Geekco Technologies vs. Precious Metals And |
| Snipp Interactive vs. Computer Modelling Group | Snipp Interactive vs. Nicola Mining | Snipp Interactive vs. Rogers Communications | Snipp Interactive vs. Capstone Mining Corp |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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