GAMING FAC Correlations

9JU Stock  EUR 1.89  0.04  2.16%   
The current 90-days correlation between GAMING FAC SA and United Natural Foods is 0.37 (i.e., Weak diversification). The correlation of GAMING FAC is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

GAMING FAC Correlation With Market

Average diversification

The correlation between GAMING FAC SA and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GAMING FAC SA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to GAMING FAC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GAMING FAC when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GAMING FAC - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GAMING FAC SA to buy it.

Moving together with GAMING Stock

  0.85NTO NintendoPairCorr
  0.85NTOA NintendoPairCorr
  0.77931 Sea LimitedPairCorr
  0.71TKE Take Two InteractivePairCorr
  0.69AC8 Aristocrat LeisurePairCorr
  0.72DBPE Xtrackers LevDAXPairCorr
  0.85E908 Lyxor 1PairCorr

Moving against GAMING Stock

  0.73ERT Electronic ArtsPairCorr
  0.71DBPD Xtrackers ShortDAXPairCorr
  0.477NX NEXONPairCorr
  0.457NX NEXON CoPairCorr
  0.43MSF MicrosoftPairCorr
  0.43MSF MicrosoftPairCorr
  0.43MSF MicrosoftPairCorr
  0.42MSF MicrosoftPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
IZZFV8
IZZPH4
IZZUN3
PH4TF7A
TF7AFV8
PH4FV8
  
High negative correlations   
IZZNI6
NI6UN3
NI6FV8
PH4NI6
PH49EV
TF7A9EV

Risk-Adjusted Indicators

There is a big difference between GAMING Stock performing well and GAMING FAC Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze GAMING FAC's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in GAMING FAC without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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