Correlation Between Galaxy Payroll and Founder Group
Can any of the company-specific risk be diversified away by investing in both Galaxy Payroll and Founder Group 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 Galaxy Payroll and Founder Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Galaxy Payroll Group and Founder Group Limited, you can compare the effects of market volatilities on Galaxy Payroll and Founder Group 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 Galaxy Payroll with a short position of Founder Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Galaxy Payroll and Founder Group.
Diversification Opportunities for Galaxy Payroll and Founder Group
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Galaxy and Founder is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Galaxy Payroll Group and Founder Group Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Founder Group Limited and Galaxy Payroll 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 Galaxy Payroll Group are associated (or correlated) with Founder Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Founder Group Limited has no effect on the direction of Galaxy Payroll i.e., Galaxy Payroll and Founder Group go up and down completely randomly.
Pair Corralation between Galaxy Payroll and Founder Group
Given the investment horizon of 90 days Galaxy Payroll Group is expected to generate 0.75 times more return on investment than Founder Group. However, Galaxy Payroll Group is 1.33 times less risky than Founder Group. It trades about -0.06 of its potential returns per unit of risk. Founder Group Limited is currently generating about -0.11 per unit of risk. If you would invest 494.00 in Galaxy Payroll Group on September 3, 2025 and sell it today you would lose (194.00) from holding Galaxy Payroll Group or give up 39.27% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Galaxy Payroll Group vs. Founder Group Limited
Performance |
| Timeline |
| Galaxy Payroll Group |
| Founder Group Limited |
Galaxy Payroll and Founder Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Galaxy Payroll and Founder Group
The main advantage of trading using opposite Galaxy Payroll and Founder Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Galaxy Payroll position performs unexpectedly, Founder Group 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 Founder Group will offset losses from the drop in Founder Group's long position.| Galaxy Payroll vs. Igene Biotechnology | Galaxy Payroll vs. The Hanover Insurance | Galaxy Payroll vs. Slide Insurance Holdings, | Galaxy Payroll vs. Ping An Insurance |
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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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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