Correlation Between Ainsworth Game and GameStop Corp
Can any of the company-specific risk be diversified away by investing in both Ainsworth Game and GameStop Corp 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 Ainsworth Game and GameStop Corp into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ainsworth Game Technology and GameStop Corp, you can compare the effects of market volatilities on Ainsworth Game and GameStop Corp 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 Ainsworth Game with a short position of GameStop Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ainsworth Game and GameStop Corp.
Diversification Opportunities for Ainsworth Game and GameStop Corp
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Ainsworth and GameStop is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Ainsworth Game Technology and GameStop Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GameStop Corp and Ainsworth Game 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 Ainsworth Game Technology are associated (or correlated) with GameStop Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GameStop Corp has no effect on the direction of Ainsworth Game i.e., Ainsworth Game and GameStop Corp go up and down completely randomly.
Pair Corralation between Ainsworth Game and GameStop Corp
Assuming the 90 days horizon Ainsworth Game Technology is expected to generate 1.37 times more return on investment than GameStop Corp. However, Ainsworth Game is 1.37 times more volatile than GameStop Corp. It trades about 0.01 of its potential returns per unit of risk. GameStop Corp is currently generating about -0.02 per unit of risk. If you would invest 69.00 in Ainsworth Game Technology on September 10, 2025 and sell it today you would earn a total of 0.00 from holding Ainsworth Game Technology or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ainsworth Game Technology vs. GameStop Corp
Performance |
| Timeline |
| Ainsworth Game Technology |
| GameStop Corp |
Ainsworth Game and GameStop Corp Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ainsworth Game and GameStop Corp
The main advantage of trading using opposite Ainsworth Game and GameStop Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ainsworth Game position performs unexpectedly, GameStop Corp 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 GameStop Corp will offset losses from the drop in GameStop Corp's long position.| Ainsworth Game vs. Gaming Realms plc | Ainsworth Game vs. 888 Holdings | Ainsworth Game vs. PointsBet Holdings Limited | Ainsworth Game vs. Tsutsumi Jewelry CoLtd |
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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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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