Correlation Between Atari SA and Victory Square
Can any of the company-specific risk be diversified away by investing in both Atari SA and Victory Square 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 Victory Square into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atari SA and Victory Square Technologies, you can compare the effects of market volatilities on Atari SA and Victory Square 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 Victory Square. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atari SA and Victory Square.
Diversification Opportunities for Atari SA and Victory Square
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Atari and Victory is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Atari SA and Victory Square Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Victory Square Techn 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 Victory Square. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Victory Square Techn has no effect on the direction of Atari SA i.e., Atari SA and Victory Square go up and down completely randomly.
Pair Corralation between Atari SA and Victory Square
Assuming the 90 days horizon Atari SA is expected to generate 3.33 times less return on investment than Victory Square. But when comparing it to its historical volatility, Atari SA is 1.0 times less risky than Victory Square. It trades about 0.07 of its potential returns per unit of risk. Victory Square Technologies is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 7.96 in Victory Square Technologies on November 1, 2024 and sell it today you would earn a total of 21.04 from holding Victory Square Technologies or generate 264.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Atari SA vs. Victory Square Technologies
Performance |
| Timeline |
| Atari SA |
| Victory Square Techn |
Atari SA and Victory Square Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atari SA and Victory Square
The main advantage of trading using opposite Atari SA and Victory Square positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atari SA position performs unexpectedly, Victory Square 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 Victory Square will offset losses from the drop in Victory Square's long position.| Atari SA vs. ImagineAR | Atari SA vs. Fandom Sports Media | Atari SA vs. Image Protect | Atari SA vs. Coinsilium Group |
| Victory Square vs. GameSquare Holdings | Victory Square vs. Nexon Co Ltd | Victory Square vs. i3 Interactive | Victory Square 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Stocks Directory Find actively traded stocks across global markets | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance |