Correlation Between Plantify Foods and Global Crossing
Can any of the company-specific risk be diversified away by investing in both Plantify Foods and Global Crossing 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 Plantify Foods and Global Crossing into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Plantify Foods and Global Crossing Airlines, you can compare the effects of market volatilities on Plantify Foods and Global Crossing 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 Plantify Foods with a short position of Global Crossing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Plantify Foods and Global Crossing.
Diversification Opportunities for Plantify Foods and Global Crossing
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Plantify and Global is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Plantify Foods and Global Crossing Airlines in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Crossing Airlines and Plantify Foods 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 Plantify Foods are associated (or correlated) with Global Crossing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Crossing Airlines has no effect on the direction of Plantify Foods i.e., Plantify Foods and Global Crossing go up and down completely randomly.
Pair Corralation between Plantify Foods and Global Crossing
Assuming the 90 days trading horizon Plantify Foods is expected to under-perform the Global Crossing. In addition to that, Plantify Foods is 1.11 times more volatile than Global Crossing Airlines. It trades about -0.03 of its total potential returns per unit of risk. Global Crossing Airlines is currently generating about 0.0 per unit of volatility. If you would invest 91.00 in Global Crossing Airlines on September 6, 2025 and sell it today you would lose (4.00) from holding Global Crossing Airlines or give up 4.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Plantify Foods vs. Global Crossing Airlines
Performance |
| Timeline |
| Plantify Foods |
| Global Crossing Airlines |
Plantify Foods and Global Crossing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Plantify Foods and Global Crossing
The main advantage of trading using opposite Plantify Foods and Global Crossing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Plantify Foods position performs unexpectedly, Global Crossing 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 Global Crossing will offset losses from the drop in Global Crossing's long position.| Plantify Foods vs. American CuMo Mining | Plantify Foods vs. Metalero Mining Corp | Plantify Foods vs. Quorum Information Technologies | Plantify Foods vs. Titanium Transportation Group |
| Global Crossing vs. Wilmington Capital Management | Global Crossing vs. Medical Facilities | Global Crossing vs. Storage Vault Canada | Global Crossing vs. Waste Management, |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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