Correlation Between GEE and Ziprecruiter
Can any of the company-specific risk be diversified away by investing in both GEE and Ziprecruiter 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 GEE and Ziprecruiter into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GEE Group and Ziprecruiter, you can compare the effects of market volatilities on GEE and Ziprecruiter 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 GEE with a short position of Ziprecruiter. Check out your portfolio center. Please also check ongoing floating volatility patterns of GEE and Ziprecruiter.
Diversification Opportunities for GEE and Ziprecruiter
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GEE and Ziprecruiter is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding GEE Group and Ziprecruiter in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ziprecruiter and GEE 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 GEE Group are associated (or correlated) with Ziprecruiter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ziprecruiter has no effect on the direction of GEE i.e., GEE and Ziprecruiter go up and down completely randomly.
Pair Corralation between GEE and Ziprecruiter
Considering the 90-day investment horizon GEE Group is expected to generate 0.71 times more return on investment than Ziprecruiter. However, GEE Group is 1.4 times less risky than Ziprecruiter. It trades about 0.04 of its potential returns per unit of risk. Ziprecruiter is currently generating about -0.02 per unit of risk. If you would invest 19.00 in GEE Group on May 29, 2025 and sell it today you would earn a total of 1.00 from holding GEE Group or generate 5.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
GEE Group vs. Ziprecruiter
Performance |
| Timeline |
| GEE Group |
| Ziprecruiter |
GEE and Ziprecruiter Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GEE and Ziprecruiter
The main advantage of trading using opposite GEE and Ziprecruiter positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GEE position performs unexpectedly, Ziprecruiter 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 Ziprecruiter will offset losses from the drop in Ziprecruiter's long position.The idea behind GEE Group and Ziprecruiter pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Ziprecruiter vs. TrueBlue | Ziprecruiter vs. Kelly Services A | Ziprecruiter vs. TriNet Group | Ziprecruiter vs. ManpowerGroup |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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