Correlation Between Ainsworth Game and 02379DAA8
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By analyzing existing cross correlation between Ainsworth Game Technology and AAL 385 15 FEB 28, you can compare the effects of market volatilities on Ainsworth Game and 02379DAA8 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 Ainsworth Game with a short position of 02379DAA8. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ainsworth Game and 02379DAA8.
Diversification Opportunities for Ainsworth Game and 02379DAA8
-0.6 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Ainsworth and 02379DAA8 is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding Ainsworth Game Technology and AAL 385 15 FEB 28 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AAL 385 15 and Ainsworth Game 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 Ainsworth Game Technology are associated (or correlated) with 02379DAA8. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AAL 385 15 has no effect on the direction of Ainsworth Game i.e., Ainsworth Game and 02379DAA8 go up and down completely randomly.
Pair Corralation between Ainsworth Game and 02379DAA8
Assuming the 90 days horizon Ainsworth Game Technology is expected to under-perform the 02379DAA8. But the pink sheet apears to be less risky and, when comparing its historical volatility, Ainsworth Game Technology is 1.0 times less risky than 02379DAA8. The pink sheet trades about -0.01 of its potential returns per unit of risk. The AAL 385 15 FEB 28 is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 8,686 in AAL 385 15 FEB 28 on September 12, 2024 and sell it today you would earn a total of 705.00 from holding AAL 385 15 FEB 28 or generate 8.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 12.6% |
| Values | Daily Returns |
Ainsworth Game Technology vs. AAL 385 15 FEB 28
Performance |
| Timeline |
| Ainsworth Game Technology |
| AAL 385 15 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Strong
Ainsworth Game and 02379DAA8 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ainsworth Game and 02379DAA8
The main advantage of trading using opposite Ainsworth Game and 02379DAA8 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ainsworth Game position performs unexpectedly, 02379DAA8 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 02379DAA8 will offset losses from the drop in 02379DAA8's long position.| Ainsworth Game vs. Intema Solutions | Ainsworth Game vs. 888 Holdings | Ainsworth Game vs. Royal Wins | Ainsworth Game vs. Real Luck Group |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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