Games Operators Correlations
| GOP Stock | 10.54 0.08 0.76% |
The current 90-days correlation between Games Operators SA and Mercator Medical SA is -0.06 (i.e., Good diversification). The correlation of Games Operators 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Games Operators Correlation With Market
Excellent diversification
The correlation between Games Operators SA and DJI is -0.56 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Games Operators SA and DJI in the same portfolio, assuming nothing else is changed.
Games |
The ability to find closely correlated positions to Games Operators 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 Operators 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 Operators - 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 Operators SA to buy it.
Moving against Games Stock
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| 0.73 | ZUK | Zaklady Urzadzen Kot | PairCorr |
| 0.6 | ALI | Altustfi | PairCorr |
| 0.58 | AMC | Amica SA | PairCorr |
| 0.53 | UCG | UniCredit SpA | PairCorr |
| 0.47 | SAN | Banco Santander SA | PairCorr |
| 0.47 | PEO | Bank Polska Kasa | PairCorr |
| 0.43 | MEG | Megaron SA | PairCorr |
| 0.39 | PCO | Pepco Group BV | PairCorr |
| 0.38 | KGH | KGHM Polska Miedz | PairCorr |
| 0.37 | SPL | Santander Bank Polska | PairCorr |
| 0.34 | LSI | LSI Software SA | PairCorr |
| 0.69 | MLG | MLP Group SA | PairCorr |
| 0.65 | INP | Inpro SA | PairCorr |
| 0.63 | LPP | LPP SA | PairCorr |
| 0.59 | RBW | Rainbow Tours SA | PairCorr |
| 0.54 | KRU | Kruk SA Earnings Call This Week | PairCorr |
| 0.53 | ATR | Atrem SA | PairCorr |
| 0.48 | ULM | ULMA Construccion Polska | PairCorr |
| 0.39 | KOM | Komputronik SA | PairCorr |
| 0.37 | BNP | BNP Paribas Bank | PairCorr |
| 0.36 | OPL | OrangePL | PairCorr |
| 0.34 | DEL | Delko SA | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Games Stock performing well and Games Operators 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 Operators' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NTV | 2.64 | 0.03 | 0.00 | 0.11 | 3.48 | 5.88 | 18.38 | |||
| SKL | 0.74 | 0.07 | 0.00 | (0.53) | 0.94 | 2.74 | 10.11 | |||
| QNT | 2.47 | 0.52 | 0.12 | 0.62 | 2.60 | 5.76 | 35.98 | |||
| PLW | 1.41 | (0.04) | 0.00 | 0.74 | 0.00 | 3.63 | 11.75 | |||
| MDG | 1.73 | (0.05) | (0.02) | 0.01 | 1.97 | 4.70 | 14.01 | |||
| SWM | 2.18 | (0.22) | 0.00 | (0.23) | 0.00 | 3.83 | 14.09 | |||
| ADV | 2.92 | (0.07) | 0.00 | (0.84) | 0.00 | 8.06 | 28.44 | |||
| MRC | 0.74 | 0.02 | (0.05) | 0.24 | 0.72 | 1.19 | 6.74 |
Games Operators Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Games Operators stock to make a market-neutral strategy. Peer analysis of Games Operators could also be used in its relative valuation, which is a method of valuing Games Operators by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |