Correlation Between World Houseware and Global Crossing
Can any of the company-specific risk be diversified away by investing in both World Houseware 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 World Houseware and Global Crossing into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between World Houseware Limited and Global Crossing Airlines, you can compare the effects of market volatilities on World Houseware 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 World Houseware with a short position of Global Crossing. Check out your portfolio center. Please also check ongoing floating volatility patterns of World Houseware and Global Crossing.
Diversification Opportunities for World Houseware and Global Crossing
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between World and Global is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding World Houseware Limited 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 World Houseware 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 World Houseware Limited 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 World Houseware i.e., World Houseware and Global Crossing go up and down completely randomly.
Pair Corralation between World Houseware and Global Crossing
If you would invest 5.00 in World Houseware Limited on August 29, 2025 and sell it today you would earn a total of 0.00 from holding World Houseware Limited or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
World Houseware Limited vs. Global Crossing Airlines
Performance |
| Timeline |
| World Houseware |
| Global Crossing Airlines |
World Houseware and Global Crossing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with World Houseware and Global Crossing
The main advantage of trading using opposite World Houseware and Global Crossing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if World Houseware 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.| World Houseware vs. Trane Technologies plc | World Houseware vs. Johnson Controls International | World Houseware vs. Daikin IndustriesLtd | World Houseware vs. Daikin Industries Ltd |
| Global Crossing vs. Delta Air Lines | Global Crossing vs. Ryanair Holdings PLC | Global Crossing vs. Air China Limited | Global Crossing vs. Air China Ltd |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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