Correlation Between SLR Investment and ANGLER GAMING
Can any of the company-specific risk be diversified away by investing in both SLR Investment and ANGLER GAMING 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 SLR Investment and ANGLER GAMING into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SLR Investment Corp and ANGLER GAMING PLC, you can compare the effects of market volatilities on SLR Investment and ANGLER GAMING 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 SLR Investment with a short position of ANGLER GAMING. Check out your portfolio center. Please also check ongoing floating volatility patterns of SLR Investment and ANGLER GAMING.
Diversification Opportunities for SLR Investment and ANGLER GAMING
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SLR and ANGLER is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding SLR Investment Corp and ANGLER GAMING PLC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ANGLER GAMING PLC and SLR Investment 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 SLR Investment Corp are associated (or correlated) with ANGLER GAMING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ANGLER GAMING PLC has no effect on the direction of SLR Investment i.e., SLR Investment and ANGLER GAMING go up and down completely randomly.
Pair Corralation between SLR Investment and ANGLER GAMING
Assuming the 90 days horizon SLR Investment Corp is expected to generate 0.32 times more return on investment than ANGLER GAMING. However, SLR Investment Corp is 3.16 times less risky than ANGLER GAMING. It trades about 0.07 of its potential returns per unit of risk. ANGLER GAMING PLC is currently generating about -0.04 per unit of risk. If you would invest 1,439 in SLR Investment Corp on September 13, 2024 and sell it today you would earn a total of 147.00 from holding SLR Investment Corp or generate 10.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SLR Investment Corp vs. ANGLER GAMING PLC
Performance |
| Timeline |
| SLR Investment Corp |
| ANGLER GAMING PLC |
SLR Investment and ANGLER GAMING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SLR Investment and ANGLER GAMING
The main advantage of trading using opposite SLR Investment and ANGLER GAMING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SLR Investment position performs unexpectedly, ANGLER GAMING 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 ANGLER GAMING will offset losses from the drop in ANGLER GAMING's long position.| SLR Investment vs. EVS Broadcast Equipment | SLR Investment vs. Summit Hotel Properties | SLR Investment vs. Park Hotels Resorts | SLR Investment vs. BROADSTNET LEADL 00025 |
| ANGLER GAMING vs. Scientific Games | ANGLER GAMING vs. International Game Technology | ANGLER GAMING vs. Superior Plus Corp | ANGLER GAMING vs. SIVERS SEMICONDUCTORS AB |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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