Correlation Between AEON MALL and TROPHY GAMES
Can any of the company-specific risk be diversified away by investing in both AEON MALL and TROPHY 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 AEON MALL and TROPHY GAMES into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AEON MALL LTD and TROPHY GAMES DEV, you can compare the effects of market volatilities on AEON MALL and TROPHY 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 AEON MALL with a short position of TROPHY GAMES. Check out your portfolio center. Please also check ongoing floating volatility patterns of AEON MALL and TROPHY GAMES.
Diversification Opportunities for AEON MALL and TROPHY GAMES
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between AEON and TROPHY is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding AEON MALL LTD and TROPHY GAMES DEV in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TROPHY GAMES DEV and AEON MALL 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 AEON MALL LTD are associated (or correlated) with TROPHY GAMES. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TROPHY GAMES DEV has no effect on the direction of AEON MALL i.e., AEON MALL and TROPHY GAMES go up and down completely randomly.
Pair Corralation between AEON MALL and TROPHY GAMES
Assuming the 90 days horizon AEON MALL LTD is expected to generate 0.42 times more return on investment than TROPHY GAMES. However, AEON MALL LTD is 2.36 times less risky than TROPHY GAMES. It trades about 0.01 of its potential returns per unit of risk. TROPHY GAMES DEV is currently generating about -0.08 per unit of risk. If you would invest 1,200 in AEON MALL LTD on September 18, 2024 and sell it today you would earn a total of 0.00 from holding AEON MALL LTD or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AEON MALL LTD vs. TROPHY GAMES DEV
Performance |
| Timeline |
| AEON MALL LTD |
| TROPHY GAMES DEV |
AEON MALL and TROPHY GAMES Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AEON MALL and TROPHY GAMES
The main advantage of trading using opposite AEON MALL and TROPHY GAMES positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AEON MALL position performs unexpectedly, TROPHY 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 TROPHY GAMES will offset losses from the drop in TROPHY GAMES's long position.| AEON MALL vs. TROPHY GAMES DEV | AEON MALL vs. GigaMedia | AEON MALL vs. The Trade Desk | AEON MALL vs. Carsales |
| TROPHY GAMES vs. NEXON Co | TROPHY GAMES vs. Take Two Interactive Software | TROPHY GAMES vs. Superior Plus Corp | TROPHY GAMES vs. SIVERS SEMICONDUCTORS AB |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges |