Correlation Between GEE and Jacquet Metal

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Can any of the company-specific risk be diversified away by investing in both GEE and Jacquet Metal 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 GEE and Jacquet Metal into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GEE Group and Jacquet Metal Service, you can compare the effects of market volatilities on GEE and Jacquet Metal 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 GEE with a short position of Jacquet Metal. Check out your portfolio center. Please also check ongoing floating volatility patterns of GEE and Jacquet Metal.

Diversification Opportunities for GEE and Jacquet Metal

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between GEE and Jacquet is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding GEE Group and Jacquet Metal Service in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jacquet Metal Service and GEE 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 GEE Group are associated (or correlated) with Jacquet Metal. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jacquet Metal Service has no effect on the direction of GEE i.e., GEE and Jacquet Metal go up and down completely randomly.

Pair Corralation between GEE and Jacquet Metal

If you would invest  69.00  in GEE Group on September 6, 2022 and sell it today you would earn a total of  10.00  from holding GEE Group or generate 14.49% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

GEE Group  vs.  Jacquet Metal Service

 Performance (%) 
       Timeline  
GEE Group 
GEE Performance
4 of 100
Compared to the overall equity markets, risk-adjusted returns on investments in GEE Group are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite somewhat sluggish basic indicators, GEE may actually be approaching a critical reversion point that can send shares even higher in January 2023.

GEE Price Channel

Jacquet Metal Service 
Jacquet Performance
0 of 100
Over the last 90 days Jacquet Metal Service has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Jacquet Metal is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

GEE and Jacquet Metal Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with GEE and Jacquet Metal

The main advantage of trading using opposite GEE and Jacquet Metal positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GEE position performs unexpectedly, Jacquet Metal 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 Jacquet Metal will offset losses from the drop in Jacquet Metal's long position.
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The idea behind GEE Group and Jacquet Metal Service 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.
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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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .

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