Correlation Between Creativeforge Games and Igoria Trade
Can any of the company-specific risk be diversified away by investing in both Creativeforge Games and Igoria Trade 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 Creativeforge Games and Igoria Trade into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Creativeforge Games SA and Igoria Trade SA, you can compare the effects of market volatilities on Creativeforge Games and Igoria Trade 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 Creativeforge Games with a short position of Igoria Trade. Check out your portfolio center. Please also check ongoing floating volatility patterns of Creativeforge Games and Igoria Trade.
Diversification Opportunities for Creativeforge Games and Igoria Trade
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Creativeforge and Igoria is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Creativeforge Games SA and Igoria Trade SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Igoria Trade SA and Creativeforge Games 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 Creativeforge Games SA are associated (or correlated) with Igoria Trade. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Igoria Trade SA has no effect on the direction of Creativeforge Games i.e., Creativeforge Games and Igoria Trade go up and down completely randomly.
Pair Corralation between Creativeforge Games and Igoria Trade
Assuming the 90 days trading horizon Creativeforge Games SA is expected to generate 0.34 times more return on investment than Igoria Trade. However, Creativeforge Games SA is 2.94 times less risky than Igoria Trade. It trades about 0.05 of its potential returns per unit of risk. Igoria Trade SA is currently generating about -0.05 per unit of risk. If you would invest 205.00 in Creativeforge Games SA on January 27, 2025 and sell it today you would earn a total of 8.00 from holding Creativeforge Games SA or generate 3.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 97.56% |
| Values | Daily Returns |
Creativeforge Games SA vs. Igoria Trade SA
Performance |
| Timeline |
| Creativeforge Games |
| Igoria Trade SA |
Creativeforge Games and Igoria Trade Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Creativeforge Games and Igoria Trade
The main advantage of trading using opposite Creativeforge Games and Igoria Trade positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Creativeforge Games position performs unexpectedly, Igoria Trade 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 Igoria Trade will offset losses from the drop in Igoria Trade's long position.| Creativeforge Games vs. ECC Games SA | Creativeforge Games vs. Asseco Business Solutions | Creativeforge Games vs. Cpi Fim SA | Creativeforge Games vs. Vercom SA |
| Igoria Trade vs. Echo Investment SA | Igoria Trade vs. Gaming Factory SA | Igoria Trade vs. Intersport Polska SA | Igoria Trade vs. Investment Friends Capital |
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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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