Correlation Between Bragg Gaming and Snail,
Can any of the company-specific risk be diversified away by investing in both Bragg Gaming and Snail, 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 Bragg Gaming and Snail, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bragg Gaming Group and Snail, Class A, you can compare the effects of market volatilities on Bragg Gaming and Snail, 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 Bragg Gaming with a short position of Snail,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bragg Gaming and Snail,.
Diversification Opportunities for Bragg Gaming and Snail,
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Bragg and Snail, is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Bragg Gaming Group and Snail, Class A in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Snail, Class A and Bragg Gaming 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 Bragg Gaming Group are associated (or correlated) with Snail,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Snail, Class A has no effect on the direction of Bragg Gaming i.e., Bragg Gaming and Snail, go up and down completely randomly.
Pair Corralation between Bragg Gaming and Snail,
Given the investment horizon of 90 days Bragg Gaming Group is expected to generate 0.93 times more return on investment than Snail,. However, Bragg Gaming Group is 1.08 times less risky than Snail,. It trades about -0.24 of its potential returns per unit of risk. Snail, Class A is currently generating about -0.25 per unit of risk. If you would invest 484.00 in Bragg Gaming Group on August 27, 2024 and sell it today you would lose (153.00) from holding Bragg Gaming Group or give up 31.61% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bragg Gaming Group vs. Snail, Class A
Performance |
| Timeline |
| Bragg Gaming Group |
| Snail, Class A |
Bragg Gaming and Snail, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bragg Gaming and Snail,
The main advantage of trading using opposite Bragg Gaming and Snail, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bragg Gaming position performs unexpectedly, Snail, 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 Snail, will offset losses from the drop in Snail,'s long position.| 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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