Games Operators Correlations

GOP Stock

10.30 0.30 3.00%

The current 90-days correlation between Games Operators SA and Alior Bank SA is -0.07 (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

Modest diversification

The correlation between Games Operators SA and DJI is 0.22 (i.e., Modest 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.

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 together with Games Stock

0.82	DNP	Dino Polska SA	Pair Corr
0.87	ALE	Allegroeu SA	Pair Corr

Moving against Games Stock

0.92	KGH	KGHM Polska Miedz	Pair Corr
0.91	MFD	M Food SA	Pair Corr
0.89	OPL	OrangePL	Pair Corr
0.89	QNT	Quantum Software	Pair Corr
0.88	SAN	Banco Santander SA	Pair Corr
0.88	TOR	Torpol SA	Pair Corr
0.87	PEO	Bank Polska Kasa	Pair Corr
0.85	INP	Inpro SA	Pair Corr
0.77	UCG	UniCredit SpA	Pair Corr
0.62	ALI	Altustfi	Pair Corr
0.61	SPL	Santander Bank Polska	Pair Corr
0.51	PCO	Pepco Group BV	Pair Corr
0.49	ABE	AB SA	Pair Corr
0.41	WWL	WAWEL SA	Pair Corr
0.39	ZAB	Zabka Group SA	Pair Corr
0.91	VOW	Volkswagen AG Non	Pair Corr
0.89	MLG	MLP Group SA	Pair Corr
0.86	LSI	LSI Software SA	Pair Corr
0.79	ING	ING Bank lski	Pair Corr
0.78	GRX	GreenX Metals	Pair Corr
0.66	AMC	Amica SA	Pair Corr
0.64	BFT	Benefit Systems SA	Pair Corr
0.62	CLD	Cloud Technologies	Pair Corr
0.61	SPR	Spyrosoft SA	Pair Corr
0.54	ABK	Abak SA	Pair Corr
0.51	LPP	LPP SA	Pair Corr
0.48	ACT	Action SA	Pair Corr
0.45	GKI	Immobile	Pair Corr
0.42	CLE	Coal Energy SA	Pair Corr

Related Correlations Analysis

	ALR	MLK	SWM	MBK	IFC	MWT	MIL	LSI
ALR		-0.01	-0.16	0.26	0.0	-0.18	0.46	0.36	ALR
MLK	-0.01		0.06	-0.14	0.0	0.05	-0.15	-0.18	MLK
SWM	-0.16	0.06		-0.67	0.0	0.9	-0.59	-0.71	SWM
MBK	0.26	-0.14	-0.67		0.0	-0.79	0.9	0.5	MBK
IFC	0.0	0.0	0.0	0.0		0.0	0.0	0.0	IFC
MWT	-0.18	0.05	0.9	-0.79	0.0		-0.69	-0.75	MWT
MIL	0.46	-0.15	-0.59	0.9	0.0	-0.69		0.48	MIL
LSI	0.36	-0.18	-0.71	0.5	0.0	-0.75	0.48		LSI
	ALR	MLK	SWM	MBK	IFC	MWT	MIL	LSI

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

MWT	+ 0.9	SWM
MIL	+ 0.9	MBK
LSI	+ 0.5	MBK
LSI	+ 0.48	MIL
MIL	+ 0.46	ALR
LSI	+ 0.36	ALR

High negative correlations

MWT	- 0.79	MBK
LSI	- 0.75	MWT
LSI	- 0.71	SWM
MIL	- 0.69	MWT
MBK	- 0.67	SWM
MIL	- 0.59	SWM

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
ALR	1.24	0.11	0.04	1.11	1.40	(1.36)	2.67	(2.57)	6.15
MLK	2.00	(0.06)	0.00	(0.15)	0.00	0.00	4.42	(3.83)	18.00
SWM	2.44	(0.18)	0.00	(0.25)	0.00	0.00	7.14	(5.61)	21.55
MBK	1.34	0.24	0.15	0.54	1.13	(1.64)	3.47	(2.04)	8.53
IFC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MWT	2.75	(0.38)	0.00	0.74	0.00	0.00	5.44	(7.74)	20.53
MIL	1.50	0.22	0.11	1.30	1.44	(1.69)	3.00	(2.37)	8.21
LSI	1.05	0.09	0.02	(10.40)	1.03	(1.75)	2.90	(2.16)	9.21

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.

Alior Bank SA Mlk Foods Public SOFTWARE MANSION SPOLKA mBank SA Investment Friends Capital MW Trade SA Bank Millennium SA LSI Software SA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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