Correlation Between RESAAS Services and Tony G

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

By analyzing existing cross correlation between RESAAS Services and Tony G Co Investment, you can compare the effects of market volatilities on RESAAS Services and Tony G 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 RESAAS Services with a short position of Tony G. Check out your portfolio center. Please also check ongoing floating volatility patterns of RESAAS Services and Tony G.

Diversification Opportunities for RESAAS Services and Tony G

0.09

Correlation Coefficient

RESAAS Services  Tony G

Significant diversification

The 3 months correlation between RESAAS and Tony is 0.09. Overlapping area represents the amount of risk that can be diversified away by holding RESAAS Services and Tony G Co Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tony G and RESAAS Services 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 RESAAS Services are associated (or correlated) with Tony G. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tony G has no effect on the direction of RESAAS Services i.e., RESAAS Services and Tony G go up and down completely randomly.

Pair Corralation between RESAAS Services and Tony G

Assuming the 90 days horizon RESAAS Services is expected to generate 5.89 times less return on investment than Tony G. But when comparing it to its historical volatility, RESAAS Services is 2.77 times less risky than Tony G. It trades about 0.05 of its potential returns per unit of risk. Tony G Co Investment is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest  105.00  in Tony G Co Investment on July 23, 2025 and sell it today you would earn a total of  26.00  from holding Tony G Co Investment or generate 24.76% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Insignificant
Accuracy	50.79%
Values	Daily Returns

RESAAS Services  vs.  Tony G Co Investment

RESAAS Services

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in RESAAS Services are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, RESAAS Services reported solid returns over the last few months and may actually be approaching a breakup point.

Tony G

Risk-Adjusted Performance

Fair

Over the last 90 days Tony G Co Investment has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly weak fundamental indicators, Tony G reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with RESAAS Services and Tony G

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

The idea behind RESAAS Services and Tony G Co Investment 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.