Correlation Between SatixFy Communications and Goldman Sachs
Can any of the company-specific risk be diversified away by investing in both SatixFy Communications and Goldman Sachs 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 SatixFy Communications and Goldman Sachs into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SatixFy Communications and Goldman Sachs Technology, you can compare the effects of market volatilities on SatixFy Communications and Goldman Sachs 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 SatixFy Communications with a short position of Goldman Sachs. Check out your portfolio center. Please also check ongoing floating volatility patterns of SatixFy Communications and Goldman Sachs.
Diversification Opportunities for SatixFy Communications and Goldman Sachs
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between SatixFy and Goldman is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding SatixFy Communications and Goldman Sachs Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Goldman Sachs Technology and SatixFy Communications 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 SatixFy Communications are associated (or correlated) with Goldman Sachs. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Goldman Sachs Technology has no effect on the direction of SatixFy Communications i.e., SatixFy Communications and Goldman Sachs go up and down completely randomly.
Pair Corralation between SatixFy Communications and Goldman Sachs
Given the investment horizon of 90 days SatixFy Communications is expected to generate 6.27 times more return on investment than Goldman Sachs. However, SatixFy Communications is 6.27 times more volatile than Goldman Sachs Technology. It trades about 0.15 of its potential returns per unit of risk. Goldman Sachs Technology is currently generating about 0.31 per unit of risk. If you would invest 200.00 in SatixFy Communications on April 25, 2025 and sell it today you would earn a total of 96.00 from holding SatixFy Communications or generate 48.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 77.05% |
| Values | Daily Returns |
SatixFy Communications vs. Goldman Sachs Technology
Performance |
| Timeline |
| SatixFy Communications |
Risk-Adjusted Performance
Good
Weak | Strong |
| Goldman Sachs Technology |
SatixFy Communications and Goldman Sachs Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SatixFy Communications and Goldman Sachs
The main advantage of trading using opposite SatixFy Communications and Goldman Sachs positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SatixFy Communications position performs unexpectedly, Goldman Sachs 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 Goldman Sachs will offset losses from the drop in Goldman Sachs' long position.| SatixFy Communications vs. Actelis Networks | SatixFy Communications vs. ClearOne | SatixFy Communications vs. Siyata Mobile | SatixFy Communications vs. Mobilicom Limited Warrants |
| Goldman Sachs vs. Delaware Healthcare Fund | Goldman Sachs vs. Lord Abbett Health | Goldman Sachs vs. Eventide Healthcare Life | Goldman Sachs vs. Putnam Global Health |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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