Correlation Between CI Games and Examobile
Can any of the company-specific risk be diversified away by investing in both CI Games and Examobile 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 Examobile 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 Examobile SA, you can compare the effects of market volatilities on CI Games and Examobile 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 Examobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Games and Examobile.
Diversification Opportunities for CI Games and Examobile
Very good diversification
The 3 months correlation between CIG and Examobile is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding CI Games SA and Examobile SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Examobile 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 Examobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Examobile SA has no effect on the direction of CI Games i.e., CI Games and Examobile go up and down completely randomly.
Pair Corralation between CI Games and Examobile
Assuming the 90 days trading horizon CI Games SA is expected to generate 1.02 times more return on investment than Examobile. However, CI Games is 1.02 times more volatile than Examobile SA. It trades about 0.57 of its potential returns per unit of risk. Examobile SA is currently generating about -0.09 per unit of risk. If you would invest 130.00 in CI Games SA on October 26, 2024 and sell it today you would earn a total of 38.00 from holding CI Games SA or generate 29.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 52.94% |
| Values | Daily Returns |
CI Games SA vs. Examobile SA
Performance |
| Timeline |
| CI Games SA |
| Examobile SA |
CI Games and Examobile Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Games and Examobile
The main advantage of trading using opposite CI Games and Examobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Games position performs unexpectedly, Examobile 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 Examobile will offset losses from the drop in Examobile's long position.| CI Games vs. BNP Paribas Bank | CI Games vs. Quantum Software SA | CI Games vs. Road Studio SA | CI Games vs. Medicofarma Biotech SA |
| Examobile vs. Clean Carbon Energy | Examobile vs. ADX | Examobile vs. Agroliga Group PLC | Examobile vs. Vee 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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