Correlation Analysis Between GM and INGEN TECHNOLOGIES

Analyzing existing cross correlation between General Motors Company and INGEN TECHNOLOGIES INC. You can compare the effects of market volatilities on GM and INGEN TECHNOLOGIES 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 GM with a short position of INGEN TECHNOLOGIES. See also your portfolio center. Please also check ongoing floating volatility patterns of GM and INGEN TECHNOLOGIES.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

General Motors  
00

Risk-Adjusted Performance

Over the last 30 days General Motors Company has generated negative risk-adjusted returns adding no value to investors with long positions. Even with considerably steady technical indicators, GM is not utilizing all of its potentials. The existing stock price chaos, may contribute to medium term losses for the stakeholders.
INGEN TECHNOLOGIES INC  
1010

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in INGEN TECHNOLOGIES INC are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively conflicting essential indicators, INGEN TECHNOLOGIES unveiled solid returns over the last few months and may actually be approaching a breakup point.

GM and INGEN TECHNOLOGIES Volatility Contrast

 Predicted Return Density 
    
  Returns 

General Motors Company  vs.  INGEN TECHNOLOGIES INC

 Performance (%) 
    
  Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, General Motors Company is expected to under-perform the INGEN TECHNOLOGIES. But the stock apears to be less risky and, when comparing its historical volatility, General Motors Company is 21.09 times less risky than INGEN TECHNOLOGIES. The stock trades about 0.0 of its potential returns per unit of risk. The INGEN TECHNOLOGIES INC is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  0.01  in INGEN TECHNOLOGIES INC on December 20, 2019 and sell it today you would earn a total of  0.01  from holding INGEN TECHNOLOGIES INC or generate 100.0% return on investment over 30 days.

Pair Corralation between GM and INGEN TECHNOLOGIES

-0.3
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for GM and INGEN TECHNOLOGIES

General Motors Company diversification synergy

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding General Motors Company and INGEN TECHNOLOGIES INC in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on INGEN TECHNOLOGIES INC and GM 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 General Motors Company are associated (or correlated) with INGEN TECHNOLOGIES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INGEN TECHNOLOGIES INC has no effect on the direction of GM i.e. GM and INGEN TECHNOLOGIES go up and down completely randomly.
See also your portfolio center. Please also try Cryptocurrency Correlation module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins and exchanges.