Correlation Between TEN SQUARE and Fiten SA

Can any of the company-specific risk be diversified away by investing in both TEN SQUARE and Fiten SA 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 TEN SQUARE and Fiten SA into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between TEN SQUARE GAMES and Fiten SA, you can compare the effects of market volatilities on TEN SQUARE and Fiten SA 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 TEN SQUARE with a short position of Fiten SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of TEN SQUARE and Fiten SA.

Diversification Opportunities for TEN SQUARE and Fiten SA

0.0

Correlation Coefficient

TEN SQUARE  Fiten SA

Pay attention - limited upside

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

Pair Corralation between TEN SQUARE and Fiten SA

If you would invest  7,475  in TEN SQUARE GAMES on December 19, 2024 and sell it today you would earn a total of  520.00  from holding TEN SQUARE GAMES or generate 6.96% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

TEN SQUARE GAMES  vs.  Fiten SA

TEN SQUARE GAMES

Risk-Adjusted Performance

Modest

Compared to the overall equity markets, risk-adjusted returns on investments in TEN SQUARE GAMES are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. Even with relatively weak basic indicators, TEN SQUARE may actually be approaching a critical reversion point that can send shares even higher in April 2025.

Fiten SA

Risk-Adjusted Performance

Very Weak

Over the last 90 days Fiten SA has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, Fiten SA is not utilizing all of its potentials. The latest stock price disarray, may contribute to short-term losses for the investors.

Pair Trading with TEN SQUARE and Fiten SA

The main advantage of trading using opposite TEN SQUARE and Fiten SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TEN SQUARE position performs unexpectedly, Fiten SA 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 Fiten SA will offset losses from the drop in Fiten SA's long position.

The idea behind TEN SQUARE GAMES and Fiten SA 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.

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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.