Correlation Between OURGAME INTHOLDL-00005 and Bet-at-home

Can any of the company-specific risk be diversified away by investing in both OURGAME INTHOLDL-00005 and Bet-at-home 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 OURGAME INTHOLDL-00005 and Bet-at-home into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between OURGAME INTHOLDL 00005 and bet at home AG, you can compare the effects of market volatilities on OURGAME INTHOLDL-00005 and Bet-at-home 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 OURGAME INTHOLDL-00005 with a short position of Bet-at-home. Check out your portfolio center. Please also check ongoing floating volatility patterns of OURGAME INTHOLDL-00005 and Bet-at-home.

Diversification Opportunities for OURGAME INTHOLDL-00005 and Bet-at-home

0.0

Correlation Coefficient

OURGAME INTHOLDL-00005  Bet-at-home

Pay attention - limited upside

The 3 months correlation between OURGAME and Bet-at-home is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding OURGAME INTHOLDL 00005 and bet at home AG in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on bet at home and OURGAME INTHOLDL-00005 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 OURGAME INTHOLDL 00005 are associated (or correlated) with Bet-at-home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of bet at home has no effect on the direction of OURGAME INTHOLDL-00005 i.e., OURGAME INTHOLDL-00005 and Bet-at-home go up and down completely randomly.

Pair Corralation between OURGAME INTHOLDL-00005 and Bet-at-home

If you would invest  249.00  in bet at home AG on October 24, 2024 and sell it today you would earn a total of  44.00  from holding bet at home AG or generate 17.67% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	94.44%
Values	Daily Returns

OURGAME INTHOLDL 00005  vs.  bet at home AG

OURGAME INTHOLDL 00005

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days OURGAME INTHOLDL 00005 has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable basic indicators, OURGAME INTHOLDL-00005 is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.

bet at home

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days bet at home AG has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound basic indicators, Bet-at-home is not utilizing all of its potentials. The newest stock price tumult, may contribute to shorter-term losses for the shareholders.

Pair Trading with OURGAME INTHOLDL-00005 and Bet-at-home

The main advantage of trading using opposite OURGAME INTHOLDL-00005 and Bet-at-home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OURGAME INTHOLDL-00005 position performs unexpectedly, Bet-at-home 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 Bet-at-home will offset losses from the drop in Bet-at-home's long position.

The idea behind OURGAME INTHOLDL 00005 and bet at home AG pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.