Correlation Between Nationwide Bailard and Gabelli Global
Can any of the company-specific risk be diversified away by investing in both Nationwide Bailard and Gabelli Global 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 Nationwide Bailard and Gabelli Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nationwide Bailard Technology and Gabelli Global Financial, you can compare the effects of market volatilities on Nationwide Bailard and Gabelli Global 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 Nationwide Bailard with a short position of Gabelli Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nationwide Bailard and Gabelli Global.
Diversification Opportunities for Nationwide Bailard and Gabelli Global
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Nationwide and Gabelli is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Nationwide Bailard Technology and Gabelli Global Financial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gabelli Global Financial and Nationwide Bailard 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 Nationwide Bailard Technology are associated (or correlated) with Gabelli Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gabelli Global Financial has no effect on the direction of Nationwide Bailard i.e., Nationwide Bailard and Gabelli Global go up and down completely randomly.
Pair Corralation between Nationwide Bailard and Gabelli Global
Assuming the 90 days horizon Nationwide Bailard Technology is expected to under-perform the Gabelli Global. In addition to that, Nationwide Bailard is 2.63 times more volatile than Gabelli Global Financial. It trades about -0.12 of its total potential returns per unit of risk. Gabelli Global Financial is currently generating about 0.22 per unit of volatility. If you would invest 1,910 in Gabelli Global Financial on October 7, 2025 and sell it today you would earn a total of 194.00 from holding Gabelli Global Financial or generate 10.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Nationwide Bailard Technology vs. Gabelli Global Financial
Performance |
| Timeline |
| Nationwide Bailard |
| Gabelli Global Financial |
Nationwide Bailard and Gabelli Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nationwide Bailard and Gabelli Global
The main advantage of trading using opposite Nationwide Bailard and Gabelli Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nationwide Bailard position performs unexpectedly, Gabelli Global 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 Gabelli Global will offset losses from the drop in Gabelli Global's long position.| Nationwide Bailard vs. Champlain Mid Cap | Nationwide Bailard vs. T Rowe Price | Nationwide Bailard vs. Wilmington Diversified Income | Nationwide Bailard vs. Omni Small Cap Value |
| Gabelli Global vs. Omni Small Cap Value | Gabelli Global vs. T Rowe Price | Gabelli Global vs. Aqr Sustainable Long Short | Gabelli Global vs. Small Cap Stock |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| AI Portfolio Prophet Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Equity Valuation Check real value of public entities based on technical and fundamental data |