Correlation Analysis Between GDI INTEGRATED and GLOBAL WATER

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

GDI INTEGRATED FACILITY  
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Risk-Adjusted Performance

Over the last 30 days GDI INTEGRATED FACILITY SERVICE has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough quite persistent forward indicators, GDI INTEGRATED is not utilizing all of its potentials. The current stock price mess, may contribute to short term losses for the partners.
GLOBAL WATER RESOURCES  
00

Risk-Adjusted Performance

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

GDI INTEGRATED and GLOBAL WATER Volatility Contrast

GDI INTEGRATED FACILITY SERVIC  vs.  GLOBAL WATER RESOURCES INC

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.00  in GLOBAL WATER RESOURCES INC on November 10, 2019 and sell it today you would earn a total of  0.00  from holding GLOBAL WATER RESOURCES INC or generate 0.0% return on investment over 30 days.

Pair Corralation between GDI INTEGRATED and GLOBAL WATER

0.0
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for GDI INTEGRATED and GLOBAL WATER

GDI INTEGRATED FACILITY SERVIC diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding GDI INTEGRATED FACILITY SERVIC and GLOBAL WATER RESOURCES INC in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on GLOBAL WATER RESOURCES and GDI INTEGRATED 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 GDI INTEGRATED FACILITY SERVICE are associated (or correlated) with GLOBAL WATER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GLOBAL WATER RESOURCES has no effect on the direction of GDI INTEGRATED i.e. GDI INTEGRATED and GLOBAL WATER go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
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