Correlation Between OURGAME INTHOLDL and Take-Two Interactive

Can any of the company-specific risk be diversified away by investing in both OURGAME INTHOLDL and Take-Two Interactive 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 and Take-Two Interactive 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 Take Two Interactive Software, you can compare the effects of market volatilities on OURGAME INTHOLDL and Take-Two Interactive 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 with a short position of Take-Two Interactive. Check out your portfolio center. Please also check ongoing floating volatility patterns of OURGAME INTHOLDL and Take-Two Interactive.

Diversification Opportunities for OURGAME INTHOLDL and Take-Two Interactive

0.0

Correlation Coefficient

OURGAME INTHOLDL  Take-Two Interactive

Pay attention - limited upside

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

Pair Corralation between OURGAME INTHOLDL and Take-Two Interactive

If you would invest  17,830  in Take Two Interactive Software on December 27, 2024 and sell it today you would earn a total of  2,012  from holding Take Two Interactive Software or generate 11.28% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

OURGAME INTHOLDL 00005  vs.  Take Two Interactive Software

OURGAME INTHOLDL 00005

Risk-Adjusted Performance

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 is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Take Two Interactive

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in Take Two Interactive Software are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain basic indicators, Take-Two Interactive may actually be approaching a critical reversion point that can send shares even higher in April 2025.

Pair Trading with OURGAME INTHOLDL and Take-Two Interactive

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

The idea behind OURGAME INTHOLDL 00005 and Take Two Interactive Software 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.