Correlation Between Global Crossing and DynaCERT
Can any of the company-specific risk be diversified away by investing in both Global Crossing and DynaCERT 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 Global Crossing and DynaCERT into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Global Crossing Airlines and dynaCERT, you can compare the effects of market volatilities on Global Crossing and DynaCERT 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 Global Crossing with a short position of DynaCERT. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global Crossing and DynaCERT.
Diversification Opportunities for Global Crossing and DynaCERT
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Global and DynaCERT is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Global Crossing Airlines and dynaCERT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on dynaCERT and Global Crossing 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 Global Crossing Airlines are associated (or correlated) with DynaCERT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of dynaCERT has no effect on the direction of Global Crossing i.e., Global Crossing and DynaCERT go up and down completely randomly.
Pair Corralation between Global Crossing and DynaCERT
Assuming the 90 days horizon Global Crossing Airlines is expected to generate 0.68 times more return on investment than DynaCERT. However, Global Crossing Airlines is 1.46 times less risky than DynaCERT. It trades about 0.05 of its potential returns per unit of risk. dynaCERT is currently generating about -0.06 per unit of risk. If you would invest 64.00 in Global Crossing Airlines on August 21, 2025 and sell it today you would earn a total of 4.00 from holding Global Crossing Airlines or generate 6.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Global Crossing Airlines vs. dynaCERT
Performance |
| Timeline |
| Global Crossing Airlines |
| dynaCERT |
Global Crossing and DynaCERT Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Global Crossing and DynaCERT
The main advantage of trading using opposite Global Crossing and DynaCERT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global Crossing position performs unexpectedly, DynaCERT 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 DynaCERT will offset losses from the drop in DynaCERT's long position.| Global Crossing vs. dynaCERT | Global Crossing vs. Cebu Air ADR | Global Crossing vs. Vow ASA | Global Crossing vs. Harbor Diversified |
| DynaCERT vs. Agfa Gevaert NV | DynaCERT vs. Vow ASA | DynaCERT vs. Aquarius Engines | DynaCERT vs. Global Crossing Airlines |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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