Correlation Between WIG 30 and Live Motion
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By analyzing existing cross correlation between WIG 30 and Live Motion Games, you can compare the effects of market volatilities on WIG 30 and Live Motion 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 WIG 30 with a short position of Live Motion. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and Live Motion.
Diversification Opportunities for WIG 30 and Live Motion
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between WIG and Live is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and Live Motion Games in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Live Motion Games and WIG 30 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 WIG 30 are associated (or correlated) with Live Motion. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Live Motion Games has no effect on the direction of WIG 30 i.e., WIG 30 and Live Motion go up and down completely randomly.
Pair Corralation between WIG 30 and Live Motion
Assuming the 90 days trading horizon WIG 30 is expected to generate 0.22 times more return on investment than Live Motion. However, WIG 30 is 4.56 times less risky than Live Motion. It trades about 0.03 of its potential returns per unit of risk. Live Motion Games is currently generating about -0.05 per unit of risk. If you would invest 251,356 in WIG 30 on August 31, 2024 and sell it today you would earn a total of 29,524 from holding WIG 30 or generate 11.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.39% |
| Values | Daily Returns |
WIG 30 vs. Live Motion Games
Performance |
| Timeline |
WIG 30 and Live Motion Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
Live Motion Games
Pair trading matchups for Live Motion
Pair Trading with WIG 30 and Live Motion
The main advantage of trading using opposite WIG 30 and Live Motion positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, Live Motion 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 Live Motion will offset losses from the drop in Live Motion's long position.| WIG 30 vs. New Tech Venture | WIG 30 vs. Quantum Software SA | WIG 30 vs. Carlson Investments SA | WIG 30 vs. Play2Chill SA |
| Live Motion vs. ECC Games SA | Live Motion vs. Asseco Business Solutions | Live Motion vs. Detalion Games SA | Live Motion vs. Asseco South Eastern |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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