Correlation Between Naked Brand and G III
Can any of the company-specific risk be diversified away by investing in both Naked Brand and G III 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 Naked Brand and G III into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Naked Brand Group and G III Apparel Group, you can compare the effects of market volatilities on Naked Brand and G III 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 Naked Brand with a short position of G III. Check out your portfolio center. Please also check ongoing floating volatility patterns of Naked Brand and G III.
Diversification Opportunities for Naked Brand and G III
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Naked and GIII is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Naked Brand Group and G III Apparel Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on G III Apparel and Naked Brand 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 Naked Brand Group are associated (or correlated) with G III. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of G III Apparel has no effect on the direction of Naked Brand i.e., Naked Brand and G III go up and down completely randomly.
Pair Corralation between Naked Brand and G III
If you would invest 2,648 in G III Apparel Group on January 19, 2024 and sell it today you would earn a total of 80.00 from holding G III Apparel Group or generate 3.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Naked Brand Group vs. G III Apparel Group
Performance |
| Timeline |
| Naked Brand Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| G III Apparel |
Naked Brand and G III Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Naked Brand and G III
The main advantage of trading using opposite Naked Brand and G III positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Naked Brand position performs unexpectedly, G III 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 G III will offset losses from the drop in G III's long position.| Naked Brand vs. Keurig Dr Pepper | Naked Brand vs. Arrow Electronics | Naked Brand vs. Asbury Automotive Group | Naked Brand vs. Cedar Realty Trust |
| G III vs. Oxford Industries | G III vs. Ermenegildo Zegna NV | G III vs. Kontoor Brands | G III vs. Columbia Sportswear |
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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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