Correlation Analysis Between Gartner and CGI

This module allows you to analyze existing cross correlation between Gartner and CGI. You can compare the effects of market volatilities on Gartner and CGI 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 Gartner with a short position of CGI. See also your portfolio center. Please also check ongoing floating volatility patterns of Gartner and CGI.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

Gartner  
00

Risk-Adjusted Performance

Over the last 30 days Gartner has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest weak performance, the Stock's essential indicators remain unchanging and the late uproar on Wall Street may also be a sign of mid-term gains for the firm leadership.
CGI  
00

Risk-Adjusted Performance

Over the last 30 days CGI has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, CGI is not utilizing all of its potentials. The late stock price disturbance, may contribute to short term losses for the investors.

Gartner and CGI Volatility Contrast

 Predicted Return Density 
      Returns 

Gartner Inc  vs.  CGI Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Gartner is expected to under-perform the CGI. In addition to that, Gartner is 2.72 times more volatile than CGI. It trades about -0.06 of its total potential returns per unit of risk. CGI is currently generating about -0.01 per unit of volatility. If you would invest  7,875  in CGI on September 17, 2019 and sell it today you would lose (99.00)  from holding CGI or give up 1.26% of portfolio value over 30 days.

Pair Corralation between Gartner and CGI

0.61
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Gartner and CGI

Gartner Inc diversification synergy

Poor diversification

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