Correlation Between Impax Asset and Globe Trade
Can any of the company-specific risk be diversified away by investing in both Impax Asset and Globe Trade 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 Impax Asset and Globe Trade into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Impax Asset Management and Globe Trade Centre, you can compare the effects of market volatilities on Impax Asset and Globe Trade 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 Impax Asset with a short position of Globe Trade. Check out your portfolio center. Please also check ongoing floating volatility patterns of Impax Asset and Globe Trade.
Diversification Opportunities for Impax Asset and Globe Trade
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Impax and Globe is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Impax Asset Management and Globe Trade Centre in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Globe Trade Centre and Impax Asset 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 Impax Asset Management are associated (or correlated) with Globe Trade. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Globe Trade Centre has no effect on the direction of Impax Asset i.e., Impax Asset and Globe Trade go up and down completely randomly.
Pair Corralation between Impax Asset and Globe Trade
If you would invest 340.00 in Globe Trade Centre on September 5, 2025 and sell it today you would earn a total of 0.00 from holding Globe Trade Centre or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Impax Asset Management vs. Globe Trade Centre
Performance |
| Timeline |
| Impax Asset Management |
| Globe Trade Centre |
Impax Asset and Globe Trade Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Impax Asset and Globe Trade
The main advantage of trading using opposite Impax Asset and Globe Trade positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Impax Asset position performs unexpectedly, Globe Trade 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 Globe Trade will offset losses from the drop in Globe Trade's long position.| Impax Asset vs. Champion Gaming Group | Impax Asset vs. Global Gaming Technologies | Impax Asset vs. InRetail Per Corp | Impax Asset vs. Chemtrade Logistics Income |
| Globe Trade vs. Australian Agricultural | Globe Trade vs. Federal Agricultural Mortgage | Globe Trade vs. Southwest Airlines | Globe Trade vs. Scandinavian Tobacco Group |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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