Gaming Correlations

2GL Stock

EUR 48.74 0.36 0.74%

The current 90-days correlation between Gaming and Leisure and Talanx AG is -0.2 (i.e., Good diversification). The correlation of Gaming is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Gaming Correlation With Market

Modest diversification

The correlation between Gaming and Leisure and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gaming and Leisure and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Gaming could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gaming when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Gaming - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Gaming and Leisure to buy it.

Moving together with Gaming Stock

0.66	EQN2	Equinix	Pair Corr
0.68	BAC	Verizon Communications	Pair Corr
0.64	6GAA	Grupo Aval Acciones	Pair Corr

Moving against Gaming Stock

0.33

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	8SP	6NM	2DG	TLX	2GB	INVN	IUI1	INL	RS6	XYTA
8SP		0.65	0.75	0.19	-0.33	-0.76	-0.86	-0.71	-0.81	-0.38	8SP
6NM	0.65		0.26	0.25	0.01	-0.28	-0.44	-0.29	-0.33	-0.09	6NM
2DG	0.75	0.26		0.04	-0.33	-0.84	-0.89	-0.81	-0.87	-0.47	2DG
TLX	0.19	0.25	0.04		-0.18	0.0	0.01	-0.2	0.05	-0.51	TLX
2GB	-0.33	0.01	-0.33	-0.18		0.46	0.35	0.37	0.34	0.57	2GB
INVN	-0.76	-0.28	-0.84	0.0	0.46		0.87	0.79	0.88	0.46	INVN
IUI1	-0.86	-0.44	-0.89	0.01	0.35	0.87		0.76	0.91	0.4	IUI1
INL	-0.71	-0.29	-0.81	-0.2	0.37	0.79	0.76		0.85	0.58	INL
RS6	-0.81	-0.33	-0.87	0.05	0.34	0.88	0.91	0.85		0.47	RS6
XYTA	-0.38	-0.09	-0.47	-0.51	0.57	0.46	0.4	0.58	0.47		XYTA
	8SP	6NM	2DG	TLX	2GB	INVN	IUI1	INL	RS6	XYTA

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RS6	+ 0.91	IUI1
RS6	+ 0.88	INVN
IUI1	+ 0.87	INVN
RS6	+ 0.85	INL
INL	+ 0.79	INVN
INL	+ 0.76	IUI1

High negative correlations

IUI1	- 0.89	2DG
RS6	- 0.87	2DG
IUI1	- 0.86	8SP
INVN	- 0.84	2DG
INL	- 0.81	2DG
RS6	- 0.81	8SP

Risk-Adjusted Indicators

There is a big difference between Gaming Stock performing well and Gaming Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Gaming's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
8SP	2.05	(0.14)	0.00	0.38	0.00	0.00	3.36	(4.74)	20.22
6NM	1.21	0.10	(0.03)	(0.21)	1.77	(1.29)	2.79	(2.69)	9.64
2DG	4.15	(1.33)	0.00	(2.07)	0.00	0.00	7.14	(8.57)	52.42
TLX	0.97	0.05	(0.06)	13.88	1.13	(1.13)	2.67	(1.64)	7.58
2GB	1.80	(0.03)	(0.04)	0.06	2.19	(2.09)	4.28	(3.67)	13.78
INVN	2.09	0.36	0.08	(1.50)	2.12	(2.49)	5.61	(4.25)	14.01
IUI1	1.27	0.25	0.13	0.91	1.07	(1.49)	3.28	(1.96)	10.30
INL	2.49	0.22	0.12	0.24	2.26	(3.25)	6.80	(3.69)	13.89
RS6	1.40	0.25	0.11	0.68	1.38	(1.62)	2.94	(2.17)	13.51
XYTA	15.79	4.34	0.13	1.91	12.41	(69.79)	50.00	(33.33)	233.33

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Our tools can tell you how much better you can do entering a position in Gaming without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Gaming Corporate Management

Elected by the shareholders, the Gaming's board of directors comprises two types of representatives: Gaming inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Gaming. The board's role is to monitor Gaming's management team and ensure that shareholders' interests are well served. Gaming's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Gaming's outside directors are responsible for providing unbiased perspectives on the board's policies.

Brad Cohen	IR Contact Officer	Profile
Matthew CFA	VP Officer	Profile
Kara Smith	IR Contact Officer	Profile
Steven Ladany	Sr Officer	Profile

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