Correlation Between GTL INFRASTRUCTURE and United Parcel

By analyzing existing cross correlation between GTL INFRASTRUCTURE and United Parcel Service, you can compare the effects of market volatilities on GTL INFRASTRUCTURE and United Parcel 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 GTL INFRASTRUCTURE with a short position of United Parcel. Check out your portfolio center. Please also check ongoing floating volatility patterns of GTL INFRASTRUCTURE and United Parcel.

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Can any of the company-specific risk be diversified away by investing in both GTL INFRASTRUCTURE and United Parcel 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 GTL INFRASTRUCTURE and United Parcel into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for GTL INFRASTRUCTURE and United Parcel

  Correlation Coefficient
United Parcel Service

Pay attention - limited upside

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

Pair Corralation between GTL INFRASTRUCTURE and United Parcel

If you would invest  9,568  in United Parcel Service on June 4, 2020 and sell it today you would earn a total of  1,868  from holding United Parcel Service or generate 19.52% return on investment over 30 days.
Time Period3 Months [change]
ValuesDaily Returns

GTL INFRASTRUCTURE  vs.  United Parcel Service Inc

 Performance (%) 

GTL INFRASTRUCTURE Risk-Adjusted Performance

Over the last 30 days GTL INFRASTRUCTURE has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, GTL INFRASTRUCTURE is not utilizing all of its potentials. The current stock price agitation, may contribute to short term losses for the retail investors.
United Parcel Service 

United Parcel Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in United Parcel Service are ranked lower than 9 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively abnormal forward-looking signals, United Parcel reported solid returns over the last few months and may actually be approaching a breakup point.

GTL INFRASTRUCTURE and United Parcel Volatility Contrast

Check out your portfolio center. Please also try Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.

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