Correlation Between I3 Interactive and Bragg Gaming
Can any of the company-specific risk be diversified away by investing in both I3 Interactive and Bragg Gaming 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 I3 Interactive and Bragg Gaming into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between i3 Interactive and Bragg Gaming Group, you can compare the effects of market volatilities on I3 Interactive and Bragg Gaming 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 I3 Interactive with a short position of Bragg Gaming. Check out your portfolio center. Please also check ongoing floating volatility patterns of I3 Interactive and Bragg Gaming.
Diversification Opportunities for I3 Interactive and Bragg Gaming
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BLITF and Bragg is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding i3 Interactive and Bragg Gaming Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bragg Gaming Group and I3 Interactive 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 i3 Interactive are associated (or correlated) with Bragg Gaming. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bragg Gaming Group has no effect on the direction of I3 Interactive i.e., I3 Interactive and Bragg Gaming go up and down completely randomly.
Pair Corralation between I3 Interactive and Bragg Gaming
If you would invest 355.00 in Bragg Gaming Group on October 25, 2024 and sell it today you would earn a total of 69.00 from holding Bragg Gaming Group or generate 19.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.74% |
| Values | Daily Returns |
i3 Interactive vs. Bragg Gaming Group
Performance |
| Timeline |
| i3 Interactive |
| Bragg Gaming Group |
I3 Interactive and Bragg Gaming Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with I3 Interactive and Bragg Gaming
The main advantage of trading using opposite I3 Interactive and Bragg Gaming positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if I3 Interactive position performs unexpectedly, Bragg Gaming 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 Bragg Gaming will offset losses from the drop in Bragg Gaming's long position.| I3 Interactive vs. NetEase | I3 Interactive vs. Nintendo Co | I3 Interactive vs. Nintendo Co ADR | I3 Interactive vs. Roblox Corp |
| Bragg Gaming vs. i3 Interactive | Bragg Gaming vs. Snail, Class A | Bragg Gaming vs. Playstudios | Bragg Gaming vs. GDEV Inc |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |