Correlation Between Boohoo Group and Gaming Realms
Can any of the company-specific risk be diversified away by investing in both Boohoo Group and Gaming Realms 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 Boohoo Group and Gaming Realms into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Boohoo Group Plc and Gaming Realms plc, you can compare the effects of market volatilities on Boohoo Group and Gaming Realms 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 Boohoo Group with a short position of Gaming Realms. Check out your portfolio center. Please also check ongoing floating volatility patterns of Boohoo Group and Gaming Realms.
Diversification Opportunities for Boohoo Group and Gaming Realms
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Boohoo and Gaming is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Boohoo Group Plc and Gaming Realms plc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gaming Realms plc and Boohoo Group 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 Boohoo Group Plc are associated (or correlated) with Gaming Realms. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gaming Realms plc has no effect on the direction of Boohoo Group i.e., Boohoo Group and Gaming Realms go up and down completely randomly.
Pair Corralation between Boohoo Group and Gaming Realms
If you would invest 65.00 in Gaming Realms plc on August 31, 2025 and sell it today you would earn a total of 0.00 from holding Gaming Realms plc or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Boohoo Group Plc vs. Gaming Realms plc
Performance |
| Timeline |
| Boohoo Group Plc |
Risk-Adjusted Performance
Weakest
Weak | Strong |
| Gaming Realms plc |
Boohoo Group and Gaming Realms Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Boohoo Group and Gaming Realms
The main advantage of trading using opposite Boohoo Group and Gaming Realms positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Boohoo Group position performs unexpectedly, Gaming Realms 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 Gaming Realms will offset losses from the drop in Gaming Realms' long position.| Boohoo Group vs. NanoTech Entertainment | Boohoo Group vs. United Airlines Holdings | Boohoo Group vs. Japan Airlines Ltd | Boohoo Group vs. Trio Tech International |
| Gaming Realms vs. Flutter Entertainment plc | Gaming Realms vs. Evolution Gaming Group | Gaming Realms vs. Evolution AB | Gaming Realms vs. DraftKings |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Other Complementary Tools
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |