Correlation Between Blue Hat and Atari SA
Can any of the company-specific risk be diversified away by investing in both Blue Hat and Atari SA 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 Blue Hat and Atari SA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Blue Hat Interactive and Atari SA, you can compare the effects of market volatilities on Blue Hat and Atari SA 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 Blue Hat with a short position of Atari SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of Blue Hat and Atari SA.
Diversification Opportunities for Blue Hat and Atari SA
Good diversification
The 3 months correlation between Blue and Atari is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Blue Hat Interactive and Atari SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Atari SA and Blue Hat 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 Blue Hat Interactive are associated (or correlated) with Atari SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Atari SA has no effect on the direction of Blue Hat i.e., Blue Hat and Atari SA go up and down completely randomly.
Pair Corralation between Blue Hat and Atari SA
Given the investment horizon of 90 days Blue Hat Interactive is expected to under-perform the Atari SA. In addition to that, Blue Hat is 1.08 times more volatile than Atari SA. It trades about -0.15 of its total potential returns per unit of risk. Atari SA is currently generating about 0.08 per unit of volatility. If you would invest 14.00 in Atari SA on November 9, 2024 and sell it today you would earn a total of 1.00 from holding Atari SA or generate 7.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Blue Hat Interactive vs. Atari SA
Performance |
| Timeline |
| Blue Hat Interactive |
| Atari SA |
Blue Hat and Atari SA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Blue Hat and Atari SA
The main advantage of trading using opposite Blue Hat and Atari SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Blue Hat position performs unexpectedly, Atari SA 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 Atari SA will offset losses from the drop in Atari SA's long position.| Blue Hat vs. GD Culture Group | Blue Hat vs. Playstudios | Blue Hat vs. i3 Interactive | Blue Hat vs. IGG Inc |
| Atari SA vs. ImagineAR | Atari SA vs. Fandom Sports Media | Atari SA vs. Image Protect | Atari SA vs. Coinsilium Group |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Other Complementary Tools
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |