Correlation Between CNJ Capital and Bragg Gaming
Can any of the company-specific risk be diversified away by investing in both CNJ Capital and Bragg Gaming 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 CNJ Capital and Bragg Gaming into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CNJ Capital Investments and Bragg Gaming Group, you can compare the effects of market volatilities on CNJ Capital and Bragg Gaming 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 CNJ Capital with a short position of Bragg Gaming. Check out your portfolio center. Please also check ongoing floating volatility patterns of CNJ Capital and Bragg Gaming.
Diversification Opportunities for CNJ Capital and Bragg Gaming
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CNJ and Bragg is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CNJ Capital Investments and Bragg Gaming Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bragg Gaming Group and CNJ Capital 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 CNJ Capital Investments are associated (or correlated) with Bragg Gaming. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bragg Gaming Group has no effect on the direction of CNJ Capital i.e., CNJ Capital and Bragg Gaming go up and down completely randomly.
Pair Corralation between CNJ Capital and Bragg Gaming
If you would invest 46.00 in CNJ Capital Investments on September 5, 2025 and sell it today you would earn a total of 0.00 from holding CNJ Capital Investments or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
CNJ Capital Investments vs. Bragg Gaming Group
Performance |
| Timeline |
| CNJ Capital Investments |
| Bragg Gaming Group |
CNJ Capital and Bragg Gaming Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CNJ Capital and Bragg Gaming
The main advantage of trading using opposite CNJ Capital and Bragg Gaming positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CNJ Capital position performs unexpectedly, Bragg Gaming 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 Bragg Gaming will offset losses from the drop in Bragg Gaming's long position.| CNJ Capital vs. Nicola Mining | CNJ Capital vs. Hill Street Beverage | CNJ Capital vs. Metalero Mining Corp | CNJ Capital vs. NeXGold Mining Corp |
| Bragg Gaming vs. Bird Construction | Bragg Gaming vs. Orbit Garant Drilling | Bragg Gaming vs. Russell Investments Global | Bragg Gaming vs. CubicFarm Systems Corp |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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