Correlation Between WIG 30 and TEN SQUARE
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By analyzing existing cross correlation between WIG 30 and TEN SQUARE GAMES, you can compare the effects of market volatilities on WIG 30 and TEN 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 WIG 30 with a short position of TEN SQUARE. Check out your portfolio center. Please also check ongoing floating volatility patterns of WIG 30 and TEN SQUARE.
Diversification Opportunities for WIG 30 and TEN SQUARE
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between WIG and TEN is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding WIG 30 and TEN SQUARE GAMES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TEN SQUARE 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 TEN SQUARE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TEN SQUARE GAMES has no effect on the direction of WIG 30 i.e., WIG 30 and TEN SQUARE go up and down completely randomly.
Pair Corralation between WIG 30 and TEN SQUARE
Assuming the 90 days trading horizon WIG 30 is expected to generate 0.61 times more return on investment than TEN SQUARE. However, WIG 30 is 1.64 times less risky than TEN SQUARE. It trades about 0.0 of its potential returns per unit of risk. TEN SQUARE GAMES is currently generating about -0.02 per unit of risk. If you would invest 283,757 in WIG 30 on August 27, 2024 and sell it today you would lose (2,400) from holding WIG 30 or give up 0.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
WIG 30 vs. TEN SQUARE GAMES
Performance |
| Timeline |
WIG 30 and TEN SQUARE Volatility Contrast
Predicted Return Density |
| Returns |
WIG 30
Pair trading matchups for WIG 30
TEN SQUARE GAMES
Pair trading matchups for TEN SQUARE
Pair Trading with WIG 30 and TEN SQUARE
The main advantage of trading using opposite WIG 30 and TEN SQUARE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WIG 30 position performs unexpectedly, TEN 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 TEN SQUARE will offset losses from the drop in TEN SQUARE's long position.| WIG 30 vs. Quantum Software SA | WIG 30 vs. GreenX Metals | WIG 30 vs. MW Trade SA | WIG 30 vs. Marie Brizard Wine |
| TEN SQUARE vs. CD PROJEKT SA | TEN SQUARE vs. 11 bit studios | TEN SQUARE vs. Movie Games SA | TEN SQUARE vs. Ultimate Games 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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