Correlation Between Contagious Gaming and DGL Investments
Can any of the company-specific risk be diversified away by investing in both Contagious Gaming and DGL Investments 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 Contagious Gaming and DGL Investments into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Contagious Gaming and DGL Investments No1, you can compare the effects of market volatilities on Contagious Gaming and DGL Investments 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 Contagious Gaming with a short position of DGL Investments. Check out your portfolio center. Please also check ongoing floating volatility patterns of Contagious Gaming and DGL Investments.
Diversification Opportunities for Contagious Gaming and DGL Investments
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between Contagious and DGL is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding Contagious Gaming and DGL Investments No1 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DGL Investments No1 and Contagious 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 Contagious Gaming are associated (or correlated) with DGL Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DGL Investments No1 has no effect on the direction of Contagious Gaming i.e., Contagious Gaming and DGL Investments go up and down completely randomly.
Pair Corralation between Contagious Gaming and DGL Investments
If you would invest 11.00 in DGL Investments No1 on September 11, 2025 and sell it today you would earn a total of 0.00 from holding DGL Investments No1 or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Contagious Gaming vs. DGL Investments No1
Performance |
| Timeline |
| Contagious Gaming |
| DGL Investments No1 |
Contagious Gaming and DGL Investments Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Contagious Gaming and DGL Investments
The main advantage of trading using opposite Contagious Gaming and DGL Investments positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Contagious Gaming position performs unexpectedly, DGL Investments 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 DGL Investments will offset losses from the drop in DGL Investments' long position.| Contagious Gaming vs. Bankers Petroleum | Contagious Gaming vs. Toronto Dominion Bank Pref | Contagious Gaming vs. Canaf Investments | Contagious Gaming vs. Highwood Asset Management |
| DGL Investments vs. Slate Grocery REIT | DGL Investments vs. DRI Healthcare Trust | DGL Investments vs. Roots Corp | DGL Investments vs. WildBrain |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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