Correlation Between I3 Interactive and Konami Holdings
Can any of the company-specific risk be diversified away by investing in both I3 Interactive and Konami Holdings 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 Konami Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between i3 Interactive and Konami Holdings, you can compare the effects of market volatilities on I3 Interactive and Konami Holdings 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 Konami Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of I3 Interactive and Konami Holdings.
Diversification Opportunities for I3 Interactive and Konami Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between BLITF and Konami is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding i3 Interactive and Konami Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Konami Holdings 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 Konami Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Konami Holdings has no effect on the direction of I3 Interactive i.e., I3 Interactive and Konami Holdings go up and down completely randomly.
Pair Corralation between I3 Interactive and Konami Holdings
If you would invest 4,316 in Konami Holdings on September 1, 2024 and sell it today you would earn a total of 402.00 from holding Konami Holdings or generate 9.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
i3 Interactive vs. Konami Holdings
Performance |
| Timeline |
| i3 Interactive |
| Konami Holdings |
I3 Interactive and Konami Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with I3 Interactive and Konami Holdings
The main advantage of trading using opposite I3 Interactive and Konami Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if I3 Interactive position performs unexpectedly, Konami Holdings 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 Konami Holdings will offset losses from the drop in Konami Holdings' long position.| I3 Interactive vs. CD Projekt SA | I3 Interactive vs. Sega Sammy Holdings | I3 Interactive vs. Playtika Holding Corp | I3 Interactive vs. Square Enix Holdings |
| Konami Holdings vs. NEXON Co | Konami Holdings vs. Sega Sammy Holdings | Konami Holdings vs. Capcom Co Ltd | Konami Holdings vs. CD Projekt SA |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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