Correlation Between Varsav Game and MWIG40
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By analyzing existing cross correlation between Varsav Game Studios and MWIG40, you can compare the effects of market volatilities on Varsav Game and MWIG40 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 Varsav Game with a short position of MWIG40. Check out your portfolio center. Please also check ongoing floating volatility patterns of Varsav Game and MWIG40.
Diversification Opportunities for Varsav Game and MWIG40
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Varsav and MWIG40 is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Varsav Game Studios and MWIG40 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MWIG40 and Varsav Game 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 Varsav Game Studios are associated (or correlated) with MWIG40. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MWIG40 has no effect on the direction of Varsav Game i.e., Varsav Game and MWIG40 go up and down completely randomly.
Pair Corralation between Varsav Game and MWIG40
Assuming the 90 days trading horizon Varsav Game is expected to generate 1.65 times less return on investment than MWIG40. In addition to that, Varsav Game is 4.6 times more volatile than MWIG40. It trades about 0.01 of its total potential returns per unit of risk. MWIG40 is currently generating about 0.08 per unit of volatility. If you would invest 414,454 in MWIG40 on September 3, 2024 and sell it today you would earn a total of 192,058 from holding MWIG40 or generate 46.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 93.74% |
| Values | Daily Returns |
Varsav Game Studios vs. MWIG40
Performance |
| Timeline |
Varsav Game and MWIG40 Volatility Contrast
Predicted Return Density |
| Returns |
Varsav Game Studios
Pair trading matchups for Varsav Game
MWIG40
Pair trading matchups for MWIG40
Pair Trading with Varsav Game and MWIG40
The main advantage of trading using opposite Varsav Game and MWIG40 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Varsav Game position performs unexpectedly, MWIG40 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 MWIG40 will offset losses from the drop in MWIG40's long position.| Varsav Game vs. Banco Santander SA | Varsav Game vs. UniCredit SpA | Varsav Game vs. CEZ as | Varsav Game vs. Polski Koncern Naftowy |
| MWIG40 vs. Mlk Foods Public | MWIG40 vs. CI Games SA | MWIG40 vs. SOFTWARE MANSION SPOLKA | MWIG40 vs. Carlson Investments 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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