Correlation Between 11 Bit and CI Games
Can any of the company-specific risk be diversified away by investing in both 11 Bit and CI Games at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining 11 Bit and CI Games into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between 11 bit studios and CI Games SA, you can compare the effects of market volatilities on 11 Bit and CI Games and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in 11 Bit with a short position of CI Games. Check out your portfolio center. Please also check ongoing floating volatility patterns of 11 Bit and CI Games.
Diversification Opportunities for 11 Bit and CI Games
Weak diversification
The 3 months correlation between 11B and CIG is 0.32. Overlapping area represents the amount of risk that can be diversified away by holding 11 bit studios and CI Games SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Games SA and 11 Bit is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on 11 bit studios are associated (or correlated) with CI Games. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Games SA has no effect on the direction of 11 Bit i.e., 11 Bit and CI Games go up and down completely randomly.
Pair Corralation between 11 Bit and CI Games
Assuming the 90 days trading horizon 11 bit studios is expected to under-perform the CI Games. But the stock apears to be less risky and, when comparing its historical volatility, 11 bit studios is 1.4 times less risky than CI Games. The stock trades about -0.04 of its potential returns per unit of risk. The CI Games SA is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 275.00 in CI Games SA on August 30, 2024 and sell it today you would lose (127.00) from holding CI Games SA or give up 46.18% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
11 bit studios vs. CI Games SA
Performance |
| Timeline |
| 11 bit studios |
| CI Games SA |
11 Bit and CI Games Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 11 Bit and CI Games
The main advantage of trading using opposite 11 Bit and CI Games positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 11 Bit position performs unexpectedly, CI Games can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in CI Games will offset losses from the drop in CI Games' long position.| 11 Bit vs. True Games Syndicate | 11 Bit vs. Centrum Finansowe Banku | 11 Bit vs. Echo Investment SA | 11 Bit vs. Detalion Games SA |
| CI Games vs. CD PROJEKT SA | CI Games vs. PLAYWAY SA | CI Games vs. 11 bit studios | CI Games vs. Movie Games SA |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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