PlayAGS Correlations

Summary

AGSDelisted Stock

USD 12.49 0.01 0.08%

The current 90-days correlation between PlayAGS and Accel Entertainment is -0.1 (i.e., Good diversification). The correlation of PlayAGS 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. If the correlation is 0, the equities are not correlated; they are entirely random.

PlayAGS Correlation With Market

Good diversification

The correlation between PlayAGS and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PlayAGS and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with PlayAGS Stock

0.62	JPSTF	JAPAN POST BANK	Pair Corr
0.66	MZHOF	Mizuho Financial	Pair Corr
0.78	BP	BP PLC ADR	Pair Corr
0.81	MSFT	Microsoft	Pair Corr
0.63	BA	Boeing	Pair Corr
0.75	JPM	JPMorgan Chase	Pair Corr
0.71	HD	Home Depot	Pair Corr
0.83	CAT	Caterpillar	Pair Corr
0.76	GE	GE Aerospace	Pair Corr

Moving against PlayAGS Stock

0.8	PPERF	Bank Mandiri Persero	Pair Corr
0.74	BKRKF	PT Bank Rakyat	Pair Corr
0.72	29366WAA4	US29366WAA45	Pair Corr
0.58	PPERY	Bank Mandiri Persero	Pair Corr
0.58	PBCRY	Bank Central Asia	Pair Corr
0.49	KO	Coca Cola	Pair Corr
0.31	PTBRY	Bank Negara Indonesia	Pair Corr

Related Correlations Analysis

	ACEL	LNW	EVRI	INSE	IGT	GDEN	BNED	BHR
ACEL		0.77	-0.5	0.74	0.0	0.57	-0.1	0.39	ACEL
LNW	0.77		-0.18	0.67	0.28	0.63	0.06	0.46	LNW
EVRI	-0.5	-0.18		-0.55	0.36	0.08	0.61	0.27	EVRI
INSE	0.74	0.67	-0.55		0.02	0.22	-0.45	-0.01	INSE
IGT	0.0	0.28	0.36	0.02		0.42	0.15	0.27	IGT
GDEN	0.57	0.63	0.08	0.22	0.42		0.57	0.83	GDEN
BNED	-0.1	0.06	0.61	-0.45	0.15	0.57		0.7	BNED
BHR	0.39	0.46	0.27	-0.01	0.27	0.83	0.7		BHR
	ACEL	LNW	EVRI	INSE	IGT	GDEN	BNED	BHR

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

BHR	+ 0.83	GDEN
LNW	+ 0.77	ACEL
INSE	+ 0.74	ACEL
BHR	+ 0.7	BNED
INSE	+ 0.67	LNW
GDEN	+ 0.63	LNW

High negative correlations

INSE	- 0.55	EVRI
EVRI	- 0.5	ACEL
BNED	- 0.45	INSE
EVRI	- 0.18	LNW
BNED	- 0.1	ACEL
BHR	- 0.01	INSE

Risk-Adjusted Indicators

There is a big difference between PlayAGS Stock performing well and PlayAGS 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 PlayAGS'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ACEL	1.37	0.08	(0.01)	(0.35)	3.35	(1.24)	2.49	(2.36)	18.95
LNW	1.91	0.06	(0.01)	(0.44)	3.38	(1.94)	3.63	(5.01)	24.44
EVRI	0.10	0.00	(0.59)	0.00	0.00	(0.15)	0.28	(0.14)	0.49
INSE	1.58	0.20	0.03	(0.52)	1.95	(1.63)	3.39	(3.36)	11.15
IGT	1.74	0.06	0.00	0.32	3.55	(1.81)	3.33	(2.37)	22.10
GDEN	1.61	(0.14)	0.00	0.49	0.00	0.00	3.64	(2.70)	12.90
BNED	2.34	(0.32)	0.00	13.02	0.00	0.00	5.54	(4.30)	26.81
BHR	2.35	0.09	0.00	0.04	0.00	0.00	4.07	(4.09)	10.04

PlayAGS Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with PlayAGS stock to make a market-neutral strategy. Peer analysis of PlayAGS could also be used in its relative valuation, which is a method of valuing PlayAGS by comparing valuation metrics with similar companies.

Accel Entertainment Light Wonder Everi Holdings Inspired Entertainment International Game Technology Golden Entertainment Barnes Noble Education Braemar Hotel Resorts American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

Still Interested in PlayAGS?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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