Correlation Between G4S Plc and Sydbank AS

By analyzing existing cross correlation between G4S Plc and Sydbank AS you can compare the effects of market volatilities on G4S Plc and Sydbank AS 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 G4S Plc with a short position of Sydbank AS. Check out your portfolio center. Please also check ongoing floating volatility patterns of G4S Plc and Sydbank AS.

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Can any of the company-specific risk be diversified away by investing in both G4S Plc and Sydbank AS at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing G4S Plc and Sydbank AS into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for G4S Plc and Sydbank AS

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Correlation
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Pay attention - limited upside

The 3 months correlation between G4S Plc and Sydbank is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding G4S Plc and Sydbank AS in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Sydbank AS and G4S Plc 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 G4S Plc are associated (or correlated) with Sydbank AS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sydbank AS has no effect on the direction of G4S Plc i.e. G4S Plc and Sydbank AS go up and down completely randomly.

Pair Corralation between G4S Plc and Sydbank AS

If you would invest (100.00)  in G4S Plc on April 28, 2020 and sell it today you would earn a total of  100.00  from holding G4S Plc or generate -100.0% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

G4S Plc  vs.  Sydbank AS

 Performance (%) 
      Timeline 
G4S Plc 
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G4S Plc Risk-Adjusted Performance

Over the last 30 days G4S Plc has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough quite persistent forward indicators, G4S Plc is not utilizing all of its potentials. The current stock price mess, may contribute to short term losses for the partners.
Sydbank AS 
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Sydbank AS Risk-Adjusted Performance

Over the last 30 days Sydbank AS has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough quite persistent forward indicators, Sydbank AS is not utilizing all of its potentials. The existing stock price mess, may contribute to short term losses for the partners.

G4S Plc and Sydbank AS Volatility Contrast

Check out your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
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