Correlation Between CI Games and Erbud SA
Can any of the company-specific risk be diversified away by investing in both CI Games and Erbud 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 CI Games and Erbud SA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CI Games SA and Erbud SA, you can compare the effects of market volatilities on CI Games and Erbud 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 CI Games with a short position of Erbud SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Games and Erbud SA.
Diversification Opportunities for CI Games and Erbud SA
Pay attention - limited upside
The 3 months correlation between CIG and Erbud is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CI Games SA and Erbud SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Erbud SA and CI 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 CI Games SA are associated (or correlated) with Erbud SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Erbud SA has no effect on the direction of CI Games i.e., CI Games and Erbud SA go up and down completely randomly.
Pair Corralation between CI Games and Erbud SA
If you would invest (100.00) in Erbud SA on September 12, 2024 and sell it today you would earn a total of 100.00 from holding Erbud SA or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
CI Games SA vs. Erbud SA
Performance |
| Timeline |
| CI Games SA |
| Erbud SA |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
CI Games and Erbud SA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Games and Erbud SA
The main advantage of trading using opposite CI Games and Erbud SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Games position performs unexpectedly, Erbud 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 Erbud SA will offset losses from the drop in Erbud SA's long position.| CI Games vs. CD PROJEKT SA | CI Games vs. PLAYWAY SA | CI Games vs. 11 bit studios | CI Games vs. TEN SQUARE GAMES |
| Erbud SA vs. Logintrade SA | Erbud SA vs. Medicofarma Biotech SA | Erbud SA vs. Monnari Trade SA | Erbud SA vs. Tower Investments 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Other Complementary Tools
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |