Correlation Analysis Between GEE and Headhunter Group

Analyzing existing cross correlation between GEE Group and Headhunter Group Plc ADR. You can compare the effects of market volatilities on GEE and Headhunter Group 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 GEE with a short position of Headhunter Group. See also your portfolio center. Please also check ongoing floating volatility patterns of GEE and Headhunter Group.
Horizon     30 Days    Login   to change
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Comparative Performance

GEE Group  
00

Risk-Adjusted Performance

Over the last 30 days GEE Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in February 2020. The current disturbance may also be a sign of long term up-swing for the company investors.
Headhunter Group Plc  
77

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Headhunter Group Plc ADR are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days. In defiance of relatively weak forward-looking signals, Headhunter Group reported solid returns over the last few months and may actually be approaching a breakup point.

GEE and Headhunter Group Volatility Contrast

 Predicted Return Density 
    
  Returns 

GEE Group Inc  vs.  Headhunter Group Plc ADR

 Performance (%) 
    
  Timeline 

Pair Volatility

Considering 30-days investment horizon, GEE Group is expected to under-perform the Headhunter Group. In addition to that, GEE is 1.81 times more volatile than Headhunter Group Plc ADR. It trades about -0.15 of its total potential returns per unit of risk. Headhunter Group Plc ADR is currently generating about 0.11 per unit of volatility. If you would invest  1,806  in Headhunter Group Plc ADR on December 18, 2019 and sell it today you would earn a total of  550.00  from holding Headhunter Group Plc ADR or generate 30.45% return on investment over 30 days.

Pair Corralation between GEE and Headhunter Group

-0.7
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy78.21%
ValuesDaily Returns

Diversification Opportunities for GEE and Headhunter Group

GEE Group Inc diversification synergy

Excellent diversification

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