Correlation Between Konami Holdings and IGG
Can any of the company-specific risk be diversified away by investing in both Konami Holdings and IGG 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 Konami Holdings and IGG into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Konami Holdings and IGG Inc, you can compare the effects of market volatilities on Konami Holdings and IGG 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 Konami Holdings with a short position of IGG. Check out your portfolio center. Please also check ongoing floating volatility patterns of Konami Holdings and IGG.
Diversification Opportunities for Konami Holdings and IGG
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Konami and IGG is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Konami Holdings and IGG Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IGG Inc and Konami Holdings 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 Konami Holdings are associated (or correlated) with IGG. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IGG Inc has no effect on the direction of Konami Holdings i.e., Konami Holdings and IGG go up and down completely randomly.
Pair Corralation between Konami Holdings and IGG
If you would invest 5,488 in Konami Holdings on September 1, 2024 and sell it today you would earn a total of 0.00 from holding Konami Holdings or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Konami Holdings vs. IGG Inc
Performance |
| Timeline |
| Konami Holdings |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| IGG Inc |
Konami Holdings and IGG Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Konami Holdings and IGG
The main advantage of trading using opposite Konami Holdings and IGG positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Konami Holdings position performs unexpectedly, IGG 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 IGG will offset losses from the drop in IGG's long position.| Konami Holdings vs. NiSource | Konami Holdings vs. Sapiens International | Konami Holdings vs. Transportadora de Gas | Konami Holdings vs. Rumble Inc |
| IGG vs. CD Projekt SA | IGG vs. Sega Sammy Holdings | IGG vs. Playtika Holding Corp | IGG vs. Square Enix Holdings |
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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