Correlation Between HeadHunter Group and GEE

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

By analyzing existing cross correlation between HeadHunter Group PLC and GEE Group, you can compare the effects of market volatilities on HeadHunter Group 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 HeadHunter Group with a short position of GEE. Check out your portfolio center. Please also check ongoing floating volatility patterns of HeadHunter Group and GEE.

Diversification Opportunities for HeadHunter Group and GEE

0.0

Correlation Coefficient

HeadHunter Group  GEE

Pay attention - limited upside

The 3 months correlation between HeadHunter and GEE is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding HeadHunter Group PLC and GEE Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GEE Group and HeadHunter Group 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 HeadHunter Group PLC 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 HeadHunter Group i.e., HeadHunter Group and GEE go up and down completely randomly.

Pair Corralation between HeadHunter Group and GEE

If you would invest  1,503  in HeadHunter Group PLC on February 2, 2024 and sell it today you would earn a total of  0.00  from holding HeadHunter Group PLC or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	4.55%
Values	Daily Returns

HeadHunter Group PLC  vs.  GEE Group

HeadHunter Group PLC

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days HeadHunter Group PLC has generated negative risk-adjusted returns adding no value to investors with long positions. Even with relatively invariable technical indicators, HeadHunter Group is not utilizing all of its potentials. The current stock price agitation, may contribute to short-term losses for the retail investors.

GEE Group

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days GEE Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite unsteady performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in June 2024. The current disturbance may also be a sign of long term up-swing for the company investors.

Pair Trading with HeadHunter Group and GEE

The main advantage of trading using opposite HeadHunter Group and GEE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HeadHunter Group position performs unexpectedly, GEE can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in GEE will offset losses from the drop in GEE's long position.

The idea behind HeadHunter Group PLC and GEE Group pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.