Correlation Between ASGN and China Cgame
Can any of the company-specific risk be diversified away by investing in both ASGN and China Cgame 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 ASGN and China Cgame into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ASGN Inc and China Cgame, you can compare the effects of market volatilities on ASGN and China Cgame 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 ASGN with a short position of China Cgame. Check out your portfolio center. Please also check ongoing floating volatility patterns of ASGN and China Cgame.
Diversification Opportunities for ASGN and China Cgame
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between ASGN and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding ASGN Inc and China Cgame in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Cgame and ASGN 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 ASGN Inc are associated (or correlated) with China Cgame. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Cgame has no effect on the direction of ASGN i.e., ASGN and China Cgame go up and down completely randomly.
Pair Corralation between ASGN and China Cgame
If you would invest 0.01 in China Cgame on September 1, 2025 and sell it today you would earn a total of 0.00 from holding China Cgame or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.97% |
| Values | Daily Returns |
ASGN Inc vs. China Cgame
Performance |
| Timeline |
| ASGN Inc |
| China Cgame |
ASGN and China Cgame Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ASGN and China Cgame
The main advantage of trading using opposite ASGN and China Cgame positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ASGN position performs unexpectedly, China Cgame 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 China Cgame will offset losses from the drop in China Cgame's long position.| ASGN vs. Barrick Mining | ASGN vs. Oasis Hotel Resort | ASGN vs. Catalyst Metals Limited | ASGN vs. Centaurus Metals Limited |
| China Cgame vs. Wyndham Hotels Resorts | China Cgame vs. Zijin Mining Group | China Cgame vs. Oasis Hotel Resort | China Cgame vs. Paiute Oil Mining |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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