Correlation Between Precise Biometrics and Guardforce
Can any of the company-specific risk be diversified away by investing in both Precise Biometrics and Guardforce 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 Precise Biometrics and Guardforce into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Precise Biometrics AB and Guardforce AI Co, you can compare the effects of market volatilities on Precise Biometrics and Guardforce 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 Precise Biometrics with a short position of Guardforce. Check out your portfolio center. Please also check ongoing floating volatility patterns of Precise Biometrics and Guardforce.
Diversification Opportunities for Precise Biometrics and Guardforce
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Precise and Guardforce is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Precise Biometrics AB and Guardforce AI Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guardforce AI and Precise Biometrics 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 Precise Biometrics AB are associated (or correlated) with Guardforce. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guardforce AI has no effect on the direction of Precise Biometrics i.e., Precise Biometrics and Guardforce go up and down completely randomly.
Pair Corralation between Precise Biometrics and Guardforce
If you would invest (100.00) in Precise Biometrics AB on July 20, 2025 and sell it today you would earn a total of 100.00 from holding Precise Biometrics AB or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Precise Biometrics AB vs. Guardforce AI Co
Performance |
| Timeline |
| Precise Biometrics |
Risk-Adjusted Performance
Weakest
Weak | Strong |
| Guardforce AI |
Precise Biometrics and Guardforce Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Precise Biometrics and Guardforce
The main advantage of trading using opposite Precise Biometrics and Guardforce positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Precise Biometrics position performs unexpectedly, Guardforce 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 Guardforce will offset losses from the drop in Guardforce's long position.The idea behind Precise Biometrics AB and Guardforce AI Co 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.| Guardforce vs. SPAR Group | Guardforce vs. Volato Group | Guardforce vs. GEE Group | Guardforce vs. Globus Maritime |
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 Stocks Directory module to find actively traded stocks across global markets.
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