Correlation Between Atari SA and GD Culture
Can any of the company-specific risk be diversified away by investing in both Atari SA and GD Culture 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 GD Culture into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atari SA and GD Culture Group, you can compare the effects of market volatilities on Atari SA and GD Culture 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 GD Culture. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atari SA and GD Culture.
Diversification Opportunities for Atari SA and GD Culture
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Atari and GDC is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Atari SA and GD Culture Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GD Culture Group 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 GD Culture. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GD Culture Group has no effect on the direction of Atari SA i.e., Atari SA and GD Culture go up and down completely randomly.
Pair Corralation between Atari SA and GD Culture
Assuming the 90 days horizon Atari SA is expected to generate 2.64 times more return on investment than GD Culture. However, Atari SA is 2.64 times more volatile than GD Culture Group. It trades about 0.05 of its potential returns per unit of risk. GD Culture Group is currently generating about 0.06 per unit of risk. If you would invest 12.00 in Atari SA on October 20, 2024 and sell it today you would earn a total of 0.00 from holding Atari SA or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atari SA vs. GD Culture Group
Performance |
| Timeline |
| Atari SA |
| GD Culture Group |
Atari SA and GD Culture Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atari SA and GD Culture
The main advantage of trading using opposite Atari SA and GD Culture positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atari SA position performs unexpectedly, GD Culture 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 GD Culture will offset losses from the drop in GD Culture's long position.| Atari SA vs. ImagineAR | Atari SA vs. Fandom Sports Media | Atari SA vs. Image Protect | Atari SA vs. Coinsilium Group |
| GD Culture vs. Blue Hat Interactive | GD Culture vs. Playstudios | GD Culture vs. Motorsport Gaming Us | GD Culture vs. Alpha Esports Tech |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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