Correlation Between CI Games and Gremi Media
Can any of the company-specific risk be diversified away by investing in both CI Games and Gremi Media 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 Gremi Media 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 Gremi Media SA, you can compare the effects of market volatilities on CI Games and Gremi Media 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 Gremi Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Games and Gremi Media.
Diversification Opportunities for CI Games and Gremi Media
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CIG and Gremi is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding CI Games SA and Gremi Media SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gremi Media 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 Gremi Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gremi Media SA has no effect on the direction of CI Games i.e., CI Games and Gremi Media go up and down completely randomly.
Pair Corralation between CI Games and Gremi Media
Assuming the 90 days trading horizon CI Games SA is expected to generate 0.65 times more return on investment than Gremi Media. However, CI Games SA is 1.53 times less risky than Gremi Media. It trades about -0.01 of its potential returns per unit of risk. Gremi Media SA is currently generating about -0.07 per unit of risk. If you would invest 276.00 in CI Games SA on August 24, 2024 and sell it today you would lose (133.00) from holding CI Games SA or give up 48.19% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 28.69% |
| Values | Daily Returns |
CI Games SA vs. Gremi Media SA
Performance |
| Timeline |
| CI Games SA |
| Gremi Media SA |
CI Games and Gremi Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Games and Gremi Media
The main advantage of trading using opposite CI Games and Gremi Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Games position performs unexpectedly, Gremi Media 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 Gremi Media will offset losses from the drop in Gremi Media's long position.| CI Games vs. GreenX Metals | CI Games vs. Intersport Polska SA | CI Games vs. Live Motion Games | CI Games vs. Movie Games SA |
| Gremi Media vs. Asseco Business Solutions | Gremi Media vs. Detalion Games SA | Gremi Media vs. Asseco South Eastern | Gremi Media vs. Movie Games 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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |