GAMING FAC Correlations

9JU Stock  EUR 1.98  0.12  5.71%   
The current 90-days correlation between GAMING FAC SA and Games Workshop Group is 0.06 (i.e., Significant 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

Significant diversification

The correlation between GAMING FAC SA and DJI is 0.04 (i.e., Significant 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

  0.88NTO NintendoPairCorr
  0.88NTOA NintendoPairCorr
  0.86931 Sea LimitedPairCorr
  0.75TKE Take Two InteractivePairCorr
  0.88AC8 Aristocrat LeisurePairCorr

Moving against GAMING Stock

  0.84BZG2 BANK CENTRAL ASIAPairCorr
  0.8BZG2 BANK CENTRAL ASIAPairCorr
  0.73PQ9 PT Bank MandiriPairCorr
  0.72ERT Electronic ArtsPairCorr
  0.66PQ9 BANK MANDIRIPairCorr
  0.64PQ9 BANK MANDIRIPairCorr
  0.61PQ9 BANK MANDIRIPairCorr
  0.59BYRA BANK RAKYAT INDPairCorr
  0.517NX NEXON CoPairCorr
  0.477NX NEXON CoPairCorr
  0.41BYRA PT Bank RakyatPairCorr

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   
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High negative correlations   
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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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