Correlation Between Pesorama and Colabor
Can any of the company-specific risk be diversified away by investing in both Pesorama and Colabor 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 Pesorama and Colabor into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pesorama and Colabor Group, you can compare the effects of market volatilities on Pesorama and Colabor 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 Pesorama with a short position of Colabor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pesorama and Colabor.
Diversification Opportunities for Pesorama and Colabor
Very good diversification
The 3 months correlation between Pesorama and Colabor is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Pesorama and Colabor Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Colabor Group and Pesorama 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 Pesorama are associated (or correlated) with Colabor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Colabor Group has no effect on the direction of Pesorama i.e., Pesorama and Colabor go up and down completely randomly.
Pair Corralation between Pesorama and Colabor
Assuming the 90 days trading horizon Pesorama is expected to generate 0.59 times more return on investment than Colabor. However, Pesorama is 1.71 times less risky than Colabor. It trades about 0.11 of its potential returns per unit of risk. Colabor Group is currently generating about -0.24 per unit of risk. If you would invest 19.00 in Pesorama on August 28, 2025 and sell it today you would earn a total of 6.00 from holding Pesorama or generate 31.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Pesorama vs. Colabor Group
Performance |
| Timeline |
| Pesorama |
| Colabor Group |
Pesorama and Colabor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pesorama and Colabor
The main advantage of trading using opposite Pesorama and Colabor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pesorama position performs unexpectedly, Colabor 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 Colabor will offset losses from the drop in Colabor's long position.| Pesorama vs. Contagious Gaming | Pesorama vs. Bragg Gaming Group | Pesorama vs. Bird Construction | Pesorama vs. WELL Health Technologies |
| Colabor vs. Canlan Ice Sports | Colabor vs. Globex Mining Enterprises | Colabor vs. Nicola Mining | Colabor vs. Orbit Garant Drilling |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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