Scout Gaming Correlations

SCOUT Stock

SEK 0.13 0.00 0.00%

The current 90-days correlation between Scout Gaming Group and JLT Mobile Computers is -0.01 (i.e., Good diversification). The correlation of Scout 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Scout Gaming Correlation With Market

Weak diversification

The correlation between Scout Gaming Group and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scout Gaming Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Scout 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 Scout 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 Scout 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 Scout Gaming Group to buy it.

Moving together with Scout Stock

0.86	EMBRAC-B	Embracer Group AB	Pair Corr
0.61	PDX	Paradox Interactive	Pair Corr
0.78	EG7	Enad Global 7	Pair Corr
0.87	M8G	Media and Games	Pair Corr
0.73	G5EN	G5 Entertainment publ	Pair Corr
0.76	STAR-A	Starbreeze AB	Pair Corr
0.91	STAR-B	Starbreeze AB	Pair Corr
0.66	TEL2-A	Tele2 AB	Pair Corr
0.62	DOM	Dometic Group AB	Pair Corr
0.88	KAR	Karnov Group AB	Pair Corr

Moving against Scout Stock

0.53	SF	Stillfront Group	Pair Corr
0.44	ALLIGO-B	Alligo AB Series	Pair Corr
0.37	ERIC-A	Telefonaktiebolaget	Pair Corr
0.36	PIERCE	Pierce Group AB	Pair Corr

Related Correlations Analysis

	FRAG	JLT	MOBA	ANOT	FLOWS	GPX	CHARGE	SONE	SPEONE	NITRO
FRAG		-0.29	0.93	0.58	0.73	0.12	0.85	0.73	0.16	0.38	FRAG
JLT	-0.29		-0.25	-0.16	0.06	0.35	0.08	-0.1	-0.39	0.17	JLT
MOBA	0.93	-0.25		0.74	0.72	0.24	0.83	0.84	0.07	0.4	MOBA
ANOT	0.58	-0.16	0.74		0.55	0.18	0.55	0.69	0.01	0.24	ANOT
FLOWS	0.73	0.06	0.72	0.55		0.08	0.74	0.75	0.09	0.13	FLOWS
GPX	0.12	0.35	0.24	0.18	0.08		0.29	0.13	-0.38	0.44	GPX
CHARGE	0.85	0.08	0.83	0.55	0.74	0.29		0.67	0.07	0.47	CHARGE
SONE	0.73	-0.1	0.84	0.69	0.75	0.13	0.67		0.15	0.22	SONE
SPEONE	0.16	-0.39	0.07	0.01	0.09	-0.38	0.07	0.15		-0.28	SPEONE
NITRO	0.38	0.17	0.4	0.24	0.13	0.44	0.47	0.22	-0.28		NITRO
	FRAG	JLT	MOBA	ANOT	FLOWS	GPX	CHARGE	SONE	SPEONE	NITRO

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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

MOBA	+ 0.93	FRAG
CHARGE	+ 0.85	FRAG
SONE	+ 0.84	MOBA
CHARGE	+ 0.83	MOBA
SONE	+ 0.75	FLOWS
ANOT	+ 0.74	MOBA

High negative correlations

SPEONE	- 0.39	JLT
SPEONE	- 0.38	GPX
JLT	- 0.29	FRAG
NITRO	- 0.28	SPEONE
MOBA	- 0.25	JLT
ANOT	- 0.16	JLT

Risk-Adjusted Indicators

There is a big difference between Scout Stock performing well and Scout 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 Scout 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
FRAG	3.59	(1.31)	0.00	(0.99)	0.00	0.00	6.86	(8.75)	25.21
JLT	2.19	0.47	0.14	(0.67)	2.01	(3.01)	5.70	(3.40)	11.90
MOBA	6.01	(4.19)	0.00	(2.33)	0.00	0.00	3.60	(20.00)	40.61
ANOT	2.77	(0.21)	0.00	2.30	0.00	0.00	5.36	(6.24)	23.13
FLOWS	1.68	(0.08)	0.00	(0.11)	0.00	0.00	4.73	(3.45)	13.41
GPX	2.87	0.21	0.02	(0.18)	3.30	(3.94)	6.29	(6.18)	21.34
CHARGE	3.82	(0.11)	0.00	(0.22)	0.00	0.00	7.26	(6.79)	21.11
SONE	3.90	(0.24)	0.00	0.66	0.00	0.00	9.95	(8.22)	30.93
SPEONE	3.76	(0.19)	0.00	(0.16)	0.00	0.00	7.14	(6.25)	27.68
NITRO	2.64	0.11	0.01	8.25	2.49	(3.75)	7.43	(4.08)	14.45

Scout Gaming 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 Scout Gaming stock to make a market-neutral strategy. Peer analysis of Scout Gaming could also be used in its relative valuation, which is a method of valuing Scout Gaming by comparing valuation metrics with similar companies.

Fragbite Group AB JLT Mobile Computers MOBA Network publ Anoto Group AB Flowscape Technology AB Gasporox AB ChargePanel AB Sonetel AB Spectrumone publ AB Nitro Games Oyj American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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