Correlation Between Gaming Factory and All In
Can any of the company-specific risk be diversified away by investing in both Gaming Factory and All In 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 Gaming Factory and All In into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Gaming Factory SA and All In Games, you can compare the effects of market volatilities on Gaming Factory and All In 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 Gaming Factory with a short position of All In. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gaming Factory and All In.
Diversification Opportunities for Gaming Factory and All In
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Gaming and All is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Gaming Factory SA and All In Games in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on All In Games and Gaming Factory 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 Gaming Factory SA are associated (or correlated) with All In. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of All In Games has no effect on the direction of Gaming Factory i.e., Gaming Factory and All In go up and down completely randomly.
Pair Corralation between Gaming Factory and All In
Assuming the 90 days trading horizon Gaming Factory SA is expected to under-perform the All In. But the stock apears to be less risky and, when comparing its historical volatility, Gaming Factory SA is 1.54 times less risky than All In. The stock trades about -0.09 of its potential returns per unit of risk. The All In Games is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 117.00 in All In Games on September 12, 2024 and sell it today you would earn a total of 4.00 from holding All In Games or generate 3.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Gaming Factory SA vs. All In Games
Performance |
| Timeline |
| Gaming Factory SA |
| All In Games |
Gaming Factory and All In Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gaming Factory and All In
The main advantage of trading using opposite Gaming Factory and All In positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gaming Factory position performs unexpectedly, All In 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 All In will offset losses from the drop in All In's long position.| Gaming Factory vs. Creotech Instruments SA | Gaming Factory vs. Alior Bank SA | Gaming Factory vs. Monnari Trade SA | Gaming Factory vs. LSI Software SA |
| All In vs. Carlson Investments SA | All In vs. Cloud Technologies SA | All In vs. GreenX Metals | All In vs. Pyramid 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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