Correlation Between Bragg Gaming and Euro Sun
Can any of the company-specific risk be diversified away by investing in both Bragg Gaming and Euro Sun 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 Bragg Gaming and Euro Sun into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bragg Gaming Group and Euro Sun Mining, you can compare the effects of market volatilities on Bragg Gaming and Euro Sun 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 Bragg Gaming with a short position of Euro Sun. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bragg Gaming and Euro Sun.
Diversification Opportunities for Bragg Gaming and Euro Sun
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bragg and Euro is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Bragg Gaming Group and Euro Sun Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Euro Sun Mining and Bragg Gaming 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 Bragg Gaming Group are associated (or correlated) with Euro Sun. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Euro Sun Mining has no effect on the direction of Bragg Gaming i.e., Bragg Gaming and Euro Sun go up and down completely randomly.
Pair Corralation between Bragg Gaming and Euro Sun
Assuming the 90 days trading horizon Bragg Gaming Group is expected to under-perform the Euro Sun. But the stock apears to be less risky and, when comparing its historical volatility, Bragg Gaming Group is 1.23 times less risky than Euro Sun. The stock trades about -0.05 of its potential returns per unit of risk. The Euro Sun Mining is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 20.00 in Euro Sun Mining on September 3, 2025 and sell it today you would earn a total of 1.00 from holding Euro Sun Mining or generate 5.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bragg Gaming Group vs. Euro Sun Mining
Performance |
| Timeline |
| Bragg Gaming Group |
| Euro Sun Mining |
Bragg Gaming and Euro Sun Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bragg Gaming and Euro Sun
The main advantage of trading using opposite Bragg Gaming and Euro Sun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bragg Gaming position performs unexpectedly, Euro Sun 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 Euro Sun will offset losses from the drop in Euro Sun's long position.| Bragg Gaming vs. AKITA Drilling | Bragg Gaming vs. DGL Investments No1 | Bragg Gaming vs. Air Canada | Bragg Gaming vs. Partners Value Investments |
| Euro Sun vs. CVS HEALTH CDR | Euro Sun vs. Jamieson Wellness | Euro Sun vs. Applied Materials, | Euro Sun vs. Bragg Gaming Group |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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