Correlation Between Atari SA and Blue Hat
Can any of the company-specific risk be diversified away by investing in both Atari SA and Blue Hat 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 Atari SA and Blue Hat into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atari SA and Blue Hat Interactive, you can compare the effects of market volatilities on Atari SA and Blue Hat 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 Atari SA with a short position of Blue Hat. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atari SA and Blue Hat.
Diversification Opportunities for Atari SA and Blue Hat
Excellent diversification
The 3 months correlation between Atari and Blue is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Atari SA and Blue Hat Interactive in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blue Hat Interactive and Atari SA 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 Atari SA are associated (or correlated) with Blue Hat. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blue Hat Interactive has no effect on the direction of Atari SA i.e., Atari SA and Blue Hat go up and down completely randomly.
Pair Corralation between Atari SA and Blue Hat
Assuming the 90 days horizon Atari SA is expected to generate 5.61 times more return on investment than Blue Hat. However, Atari SA is 5.61 times more volatile than Blue Hat Interactive. It trades about 0.05 of its potential returns per unit of risk. Blue Hat Interactive is currently generating about -0.01 per unit of risk. If you would invest 15.00 in Atari SA on November 19, 2024 and sell it today you would lose (1.00) from holding Atari SA or give up 6.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.8% |
| Values | Daily Returns |
Atari SA vs. Blue Hat Interactive
Performance |
| Timeline |
| Atari SA |
| Blue Hat Interactive |
Atari SA and Blue Hat Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atari SA and Blue Hat
The main advantage of trading using opposite Atari SA and Blue Hat positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atari SA position performs unexpectedly, Blue Hat 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 Blue Hat will offset losses from the drop in Blue Hat's long position.| Atari SA vs. ImagineAR | Atari SA vs. Fandom Sports Media | Atari SA vs. Image Protect | Atari SA vs. Coinsilium Group |
| Blue Hat vs. GD Culture Group | Blue Hat vs. Playstudios | Blue Hat vs. i3 Interactive | Blue Hat vs. IGG Inc |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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