Correlation Between CI Games and X Trade
Can any of the company-specific risk be diversified away by investing in both CI Games and X 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 CI Games and X Trade 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 X Trade Brokers, you can compare the effects of market volatilities on CI Games and X 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 CI Games with a short position of X Trade. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Games and X Trade.
Diversification Opportunities for CI Games and X Trade
Modest diversification
The 3 months correlation between CIG and XTB is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding CI Games SA and X Trade Brokers in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on X Trade Brokers 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 X Trade. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of X Trade Brokers has no effect on the direction of CI Games i.e., CI Games and X Trade go up and down completely randomly.
Pair Corralation between CI Games and X Trade
Assuming the 90 days trading horizon CI Games SA is expected to generate 0.7 times more return on investment than X Trade. However, CI Games SA is 1.43 times less risky than X Trade. It trades about 0.2 of its potential returns per unit of risk. X Trade Brokers is currently generating about -0.2 per unit of risk. If you would invest 148.00 in CI Games SA on November 5, 2024 and sell it today you would earn a total of 14.00 from holding CI Games SA or generate 9.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CI Games SA vs. X Trade Brokers
Performance |
| Timeline |
| CI Games SA |
| X Trade Brokers |
CI Games and X Trade Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Games and X Trade
The main advantage of trading using opposite CI Games and X Trade positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Games position performs unexpectedly, X 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 X Trade will offset losses from the drop in X Trade'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 |
| X Trade vs. Skyline Investment SA | X Trade vs. Asseco Business Solutions | X Trade vs. Movie Games SA | X Trade vs. Altustfi |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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