Correlation Analysis Between Barrett Business and GEE

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

Barrett Business Ser  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Barrett Business Services are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Despite nearly weak fundamental indicators, Barrett Business may actually be approaching a critical reversion point that can send shares even higher in October 2019.
GEE Group  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in GEE Group are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite somewhat weak basic indicators, GEE sustained solid returns over the last few months and may actually be approaching a breakup point.

Barrett Business and GEE Volatility Contrast

 Predicted Return Density 
      Returns 

Barrett Business Services Inc  vs.  GEE Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, Barrett Business is expected to generate 1.67 times less return on investment than GEE. But when comparing it to its historical volatility, Barrett Business Services is 4.34 times less risky than GEE. It trades about 0.08 of its potential returns per unit of risk. GEE Group is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest  62.08  in GEE Group on August 21, 2019 and sell it today you would lose (2.27)  from holding GEE Group or give up 3.66% of portfolio value over 30 days.

Pair Corralation between Barrett Business and GEE

-0.64
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for Barrett Business and GEE

Barrett Business Services Inc diversification synergy

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding Barrett Business Services Inc and GEE Group Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on GEE Group and Barrett Business 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 Barrett Business Services are associated (or correlated) with GEE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GEE Group has no effect on the direction of Barrett Business i.e. Barrett Business and GEE go up and down completely randomly.
See also your portfolio center. Please also try Theme Ratings module to determine theme ratings based on digital equity recommendations. macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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