Correlation Between GENERAL and Webus International
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By analyzing existing cross correlation between GENERAL ELEC CAP and Webus International Limited, you can compare the effects of market volatilities on GENERAL and Webus International 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 GENERAL with a short position of Webus International. Check out your portfolio center. Please also check ongoing floating volatility patterns of GENERAL and Webus International.
Diversification Opportunities for GENERAL and Webus International
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GENERAL and Webus is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding GENERAL ELEC CAP and Webus International Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Webus International and GENERAL 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 GENERAL ELEC CAP are associated (or correlated) with Webus International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Webus International has no effect on the direction of GENERAL i.e., GENERAL and Webus International go up and down completely randomly.
Pair Corralation between GENERAL and Webus International
Assuming the 90 days trading horizon GENERAL ELEC CAP is expected to generate 0.21 times more return on investment than Webus International. However, GENERAL ELEC CAP is 4.66 times less risky than Webus International. It trades about -0.05 of its potential returns per unit of risk. Webus International Limited is currently generating about -0.16 per unit of risk. If you would invest 9,937 in GENERAL ELEC CAP on August 14, 2025 and sell it today you would lose (166.00) from holding GENERAL ELEC CAP or give up 1.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 37.5% |
| Values | Daily Returns |
GENERAL ELEC CAP vs. Webus International Limited
Performance |
| Timeline |
| GENERAL ELEC CAP |
| Webus International |
GENERAL and Webus International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GENERAL and Webus International
The main advantage of trading using opposite GENERAL and Webus International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GENERAL position performs unexpectedly, Webus International 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 Webus International will offset losses from the drop in Webus International's long position.| GENERAL vs. Chester Mining | GENERAL vs. Barrick Mining | GENERAL vs. Connected Media Tech | GENERAL vs. Rexford Industrial Realty |
| Webus International vs. Creative Realities | Webus International vs. SIMPPLE LTD Ordinary | Webus International vs. Blackboxstocks | Webus International vs. Swvl Holdings Corp |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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