Games Workshop Correlations

G7W Stock

EUR 157.80 4.00 2.47%

The current 90-days correlation between Games Workshop Group and The Hanover Insurance is 0.09 (i.e., Significant diversification). The correlation of Games Workshop 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.

Games Workshop Correlation With Market

Average diversification

The correlation between Games Workshop Group and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Games Workshop Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Games Workshop could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Games Workshop 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 Games Workshop - 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 Games Workshop Group to buy it.

Moving together with Games Stock

0.9	PCE1	Booking Holdings	Pair Corr
0.69	OLL	Oriental Land	Pair Corr
0.79	CLV	Trip Group Limited	Pair Corr
0.92	RC8	Royal Caribbean Group	Pair Corr
0.89	E3X1	Expedia Group	Pair Corr
0.92	CVC1	Carnival plc	Pair Corr
0.86	5F3	JINS HOLDINGS INC	Pair Corr
0.78	SON1	Sony Group Corp	Pair Corr
0.8	BFP	BBVA Banco Frances	Pair Corr
0.89	UN3	United Natural Foods Earnings Call This Week	Pair Corr
0.62	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Games Stock

0.88	SHM1	SHIMANO INC UNSPADR10	Pair Corr
0.88	SHM	Shimano	Pair Corr
0.88	MIZ	Mizuno	Pair Corr
0.82	5FV	YAOKO LTD	Pair Corr
0.66	HCMA	HITACHI STRMACHADR2	Pair Corr
0.64	DBPD	Xtrackers ShortDAX	Pair Corr
0.44	YHA	Yamaha Split	Pair Corr
0.43	893	MITSUBISHI KAKOKI	Pair Corr

Related Correlations Analysis

	QBE	A4S	AF4	4QVA	MZ8A	CWW	AF4	PWT
QBE		0.91	0.96	0.29	0.9	0.88	0.96	0.88	QBE
A4S	0.91		0.91	0.33	0.85	0.74	0.92	0.8	A4S
AF4	0.96	0.91		0.28	0.87	0.87	0.99	0.88	AF4
4QVA	0.29	0.33	0.28		0.07	-0.02	0.3	0.0	4QVA
MZ8A	0.9	0.85	0.87	0.07		0.87	0.86	0.9	MZ8A
CWW	0.88	0.74	0.87	-0.02	0.87		0.85	0.9	CWW
AF4	0.96	0.92	0.99	0.3	0.86	0.85		0.87	AF4
PWT	0.88	0.8	0.88	0.0	0.9	0.9	0.87		PWT
	QBE	A4S	AF4	4QVA	MZ8A	CWW	AF4	PWT

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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

AF4	+ 0.99	AF4
AF4	+ 0.96	QBE
AF4	+ 0.96	QBE
AF4	+ 0.92	A4S
A4S	+ 0.91	QBE
AF4	+ 0.91	A4S

High negative correlations

CWW	- 0.02	4QVA
PWT	- 0.0	4QVA

Risk-Adjusted Indicators

There is a big difference between Games Stock performing well and Games Workshop 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 Games Workshop'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
QBE	0.98	0.34	0.16	3.10	0.73	(1.41)	2.59	(1.05)	6.06
A4S	1.09	0.29	0.27	0.29	0.79	(1.28)	2.33	(1.27)	16.93
AF4	1.12	0.33	0.19	0.83	0.67	(1.76)	2.92	(1.52)	6.22
4QVA	2.60	0.05	0.02	0.14	3.12	(6.88)	6.25	(5.56)	23.61
MZ8A	1.45	0.36	0.12	(2.71)	1.32	(2.00)	3.89	(2.75)	8.12
CWW	1.01	0.25	0.12	1.85	1.05	(1.14)	2.20	(2.09)	5.19
AF4	1.19	0.30	0.21	0.54	0.72	(1.80)	3.23	(1.53)	6.03
PWT	1.31	0.24	0.08	1.54	1.20	(1.87)	3.01	(2.50)	12.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in Games Workshop 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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