Correlation Between GOLDEN GUINEA and ASO SAVINGS

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

By analyzing existing cross correlation between GOLDEN GUINEA BREWERIES and ASO SAVINGS AND, you can compare the effects of market volatilities on GOLDEN GUINEA and ASO SAVINGS 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 GOLDEN GUINEA with a short position of ASO SAVINGS. Check out your portfolio center. Please also check ongoing floating volatility patterns of GOLDEN GUINEA and ASO SAVINGS.

Diversification Opportunities for GOLDEN GUINEA and ASO SAVINGS

0.0

Correlation Coefficient

GOLDEN GUINEA  ASO SAVINGS

Pay attention - limited upside

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

Pair Corralation between GOLDEN GUINEA and ASO SAVINGS

If you would invest  50.00  in ASO SAVINGS AND on September 13, 2025 and sell it today you would earn a total of  57.00  from holding ASO SAVINGS AND or generate 114.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

GOLDEN GUINEA BREWERIES  vs.  ASO SAVINGS AND

GOLDEN GUINEA BREWERIES

Risk-Adjusted Performance

Weakest

Over the last 90 days GOLDEN GUINEA BREWERIES has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound technical and fundamental indicators, GOLDEN GUINEA is not utilizing all of its potentials. The recent stock price tumult, may contribute to shorter-term losses for the shareholders.

ASO SAVINGS AND

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in ASO SAVINGS AND are ranked lower than 24 (%) of all global equities and portfolios over the last 90 days. Despite fairly weak technical and fundamental indicators, ASO SAVINGS demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with GOLDEN GUINEA and ASO SAVINGS

The main advantage of trading using opposite GOLDEN GUINEA and ASO SAVINGS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GOLDEN GUINEA position performs unexpectedly, ASO SAVINGS 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 ASO SAVINGS will offset losses from the drop in ASO SAVINGS's long position.

The idea behind GOLDEN GUINEA BREWERIES and ASO SAVINGS AND 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.

Check out your portfolio center.

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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.