Correlation Between CI Games and Poznanska Korporacja
Can any of the company-specific risk be diversified away by investing in both CI Games and Poznanska Korporacja 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 Poznanska Korporacja 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 Poznanska Korporacja Budowlana, you can compare the effects of market volatilities on CI Games and Poznanska Korporacja 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 Poznanska Korporacja. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Games and Poznanska Korporacja.
Diversification Opportunities for CI Games and Poznanska Korporacja
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between CIG and Poznanska is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding CI Games SA and Poznanska Korporacja Budowlana in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Poznanska Korporacja 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 Poznanska Korporacja. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poznanska Korporacja has no effect on the direction of CI Games i.e., CI Games and Poznanska Korporacja go up and down completely randomly.
Pair Corralation between CI Games and Poznanska Korporacja
Assuming the 90 days trading horizon CI Games SA is expected to generate 0.98 times more return on investment than Poznanska Korporacja. However, CI Games SA is 1.03 times less risky than Poznanska Korporacja. It trades about -0.35 of its potential returns per unit of risk. Poznanska Korporacja Budowlana is currently generating about -0.37 per unit of risk. If you would invest 150.00 in CI Games SA on September 14, 2024 and sell it today you would lose (18.00) from holding CI Games SA or give up 12.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CI Games SA vs. Poznanska Korporacja Budowlana
Performance |
| Timeline |
| CI Games SA |
| Poznanska Korporacja |
CI Games and Poznanska Korporacja Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Games and Poznanska Korporacja
The main advantage of trading using opposite CI Games and Poznanska Korporacja positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Games position performs unexpectedly, Poznanska Korporacja 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 Poznanska Korporacja will offset losses from the drop in Poznanska Korporacja's long position.| CI Games vs. CD PROJEKT SA | CI Games vs. PLAYWAY SA | CI Games vs. TEN SQUARE GAMES | CI Games vs. Movie Games SA |
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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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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