Correlation Between Logintrade and CI Games
Can any of the company-specific risk be diversified away by investing in both Logintrade and CI Games 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 Logintrade and CI Games into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Logintrade SA and CI Games SA, you can compare the effects of market volatilities on Logintrade and CI Games 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 Logintrade with a short position of CI Games. Check out your portfolio center. Please also check ongoing floating volatility patterns of Logintrade and CI Games.
Diversification Opportunities for Logintrade and CI Games
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Logintrade and CIG is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Logintrade SA and CI Games SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Games SA and Logintrade 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 Logintrade SA are associated (or correlated) with CI Games. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Games SA has no effect on the direction of Logintrade i.e., Logintrade and CI Games go up and down completely randomly.
Pair Corralation between Logintrade and CI Games
Assuming the 90 days trading horizon Logintrade SA is expected to generate 1.93 times more return on investment than CI Games. However, Logintrade is 1.93 times more volatile than CI Games SA. It trades about 0.23 of its potential returns per unit of risk. CI Games SA is currently generating about -0.13 per unit of risk. If you would invest 268.00 in Logintrade SA on September 14, 2024 and sell it today you would earn a total of 100.00 from holding Logintrade SA or generate 37.31% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 63.49% |
Values | Daily Returns |
Logintrade SA vs. CI Games SA
Performance |
Timeline |
Logintrade SA |
CI Games SA |
Logintrade and CI Games Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Logintrade and CI Games
The main advantage of trading using opposite Logintrade and CI Games positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Logintrade position performs unexpectedly, CI Games 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 CI Games will offset losses from the drop in CI Games' long position.Logintrade vs. Santander Bank Polska | Logintrade vs. Mlk Foods Public | Logintrade vs. Centrum Finansowe Banku | Logintrade vs. Road Studio SA |
CI Games vs. LSI Software SA | CI Games vs. Live Motion Games | CI Games vs. PLAYWAY SA | CI Games vs. TEN SQUARE GAMES |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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