Correlation Between Ainsworth Game and SOUTHERN
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By analyzing existing cross correlation between Ainsworth Game Technology and SOUTHERN CALIF EDISON, you can compare the effects of market volatilities on Ainsworth Game and SOUTHERN 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 SOUTHERN. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ainsworth Game and SOUTHERN.
Diversification Opportunities for Ainsworth Game and SOUTHERN
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Ainsworth and SOUTHERN is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Ainsworth Game Technology and SOUTHERN CALIF EDISON in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SOUTHERN CALIF EDISON 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 SOUTHERN. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SOUTHERN CALIF EDISON has no effect on the direction of Ainsworth Game i.e., Ainsworth Game and SOUTHERN go up and down completely randomly.
Pair Corralation between Ainsworth Game and SOUTHERN
Assuming the 90 days horizon Ainsworth Game Technology is expected to under-perform the SOUTHERN. In addition to that, Ainsworth Game is 2.89 times more volatile than SOUTHERN CALIF EDISON. It trades about -0.01 of its total potential returns per unit of risk. SOUTHERN CALIF EDISON is currently generating about 0.03 per unit of volatility. If you would invest 9,880 in SOUTHERN CALIF EDISON on September 12, 2024 and sell it today you would earn a total of 572.00 from holding SOUTHERN CALIF EDISON or generate 5.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 70.3% |
| Values | Daily Returns |
Ainsworth Game Technology vs. SOUTHERN CALIF EDISON
Performance |
| Timeline |
| Ainsworth Game Technology |
| SOUTHERN CALIF EDISON |
Ainsworth Game and SOUTHERN Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ainsworth Game and SOUTHERN
The main advantage of trading using opposite Ainsworth Game and SOUTHERN positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ainsworth Game position performs unexpectedly, SOUTHERN 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 SOUTHERN will offset losses from the drop in SOUTHERN's long position.| Ainsworth Game vs. Intema Solutions | Ainsworth Game vs. Royal Wins | Ainsworth Game vs. Real Luck Group | Ainsworth Game vs. Betmakers Technology Group |
| SOUTHERN vs. KNOT Offshore Partners | SOUTHERN vs. Playstudios | SOUTHERN vs. Jutal Offshore Oil | SOUTHERN vs. Ainsworth Game Technology |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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