Correlation Between Gex Management and Decker Manufacturing
Can any of the company-specific risk be diversified away by investing in both Gex Management and Decker Manufacturing 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 Gex Management and Decker Manufacturing into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gex Management and Decker Manufacturing, you can compare the effects of market volatilities on Gex Management and Decker Manufacturing 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 Gex Management with a short position of Decker Manufacturing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gex Management and Decker Manufacturing.
Diversification Opportunities for Gex Management and Decker Manufacturing
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Gex and Decker is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Gex Management and Decker Manufacturing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Decker Manufacturing and Gex Management 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 Gex Management are associated (or correlated) with Decker Manufacturing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Decker Manufacturing has no effect on the direction of Gex Management i.e., Gex Management and Decker Manufacturing go up and down completely randomly.
Pair Corralation between Gex Management and Decker Manufacturing
If you would invest 5,500 in Decker Manufacturing on September 1, 2025 and sell it today you would earn a total of 0.00 from holding Decker Manufacturing or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 16.28% |
| Values | Daily Returns |
Gex Management vs. Decker Manufacturing
Performance |
| Timeline |
| Gex Management |
| Decker Manufacturing |
Risk-Adjusted Performance
Good
Weak | Strong |
Gex Management and Decker Manufacturing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gex Management and Decker Manufacturing
The main advantage of trading using opposite Gex Management and Decker Manufacturing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gex Management position performs unexpectedly, Decker Manufacturing 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 Decker Manufacturing will offset losses from the drop in Decker Manufacturing's long position.| Gex Management vs. Kelvin Medical | Gex Management vs. TeraForce Technology | Gex Management vs. Medical Connections Holdings | Gex Management vs. STRATEC Biomedical AG |
| Decker Manufacturing vs. Union Medical Healthcare | Decker Manufacturing vs. Olympic Steel | Decker Manufacturing vs. Mitsui Chemicals ADR | Decker Manufacturing vs. HEALTHeUNIVERSE |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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