Correlation Between Theglobe and KonaTel

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

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

Diversification Opportunities for Theglobe and KonaTel

0.0

Correlation Coefficient

Theglobe  KonaTel

Pay attention - limited upside

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

Pair Corralation between Theglobe and KonaTel

If you would invest  30.00  in KonaTel on May 5, 2025 and sell it today you would earn a total of  1.00  from holding KonaTel or generate 3.33% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

theglobe  vs.  KonaTel

theglobe

Risk-Adjusted Performance

Very Weak

Over the last 90 days theglobe has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy essential indicators, Theglobe is not utilizing all of its potentials. The newest stock price disarray, may contribute to short-term losses for the investors.

KonaTel

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in KonaTel are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. Despite quite unfluctuating technical and fundamental indicators, KonaTel disclosed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Theglobe and KonaTel

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

The idea behind theglobe and KonaTel 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.