Correlation Between GameSquare Holdings and Tsingtao Brewery
Can any of the company-specific risk be diversified away by investing in both GameSquare Holdings and Tsingtao Brewery 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 GameSquare Holdings and Tsingtao Brewery into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GameSquare Holdings and Tsingtao Brewery, you can compare the effects of market volatilities on GameSquare Holdings and Tsingtao Brewery 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 GameSquare Holdings with a short position of Tsingtao Brewery. Check out your portfolio center. Please also check ongoing floating volatility patterns of GameSquare Holdings and Tsingtao Brewery.
Diversification Opportunities for GameSquare Holdings and Tsingtao Brewery
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GameSquare and Tsingtao is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding GameSquare Holdings and Tsingtao Brewery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tsingtao Brewery and GameSquare Holdings 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 GameSquare Holdings are associated (or correlated) with Tsingtao Brewery. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tsingtao Brewery has no effect on the direction of GameSquare Holdings i.e., GameSquare Holdings and Tsingtao Brewery go up and down completely randomly.
Pair Corralation between GameSquare Holdings and Tsingtao Brewery
Given the investment horizon of 90 days GameSquare Holdings is expected to under-perform the Tsingtao Brewery. In addition to that, GameSquare Holdings is 1.75 times more volatile than Tsingtao Brewery. It trades about -0.08 of its total potential returns per unit of risk. Tsingtao Brewery is currently generating about 0.08 per unit of volatility. If you would invest 626.00 in Tsingtao Brewery on September 2, 2025 and sell it today you would earn a total of 72.00 from holding Tsingtao Brewery or generate 11.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
GameSquare Holdings vs. Tsingtao Brewery
Performance |
| Timeline |
| GameSquare Holdings |
| Tsingtao Brewery |
GameSquare Holdings and Tsingtao Brewery Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GameSquare Holdings and Tsingtao Brewery
The main advantage of trading using opposite GameSquare Holdings and Tsingtao Brewery positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GameSquare Holdings position performs unexpectedly, Tsingtao Brewery 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 Tsingtao Brewery will offset losses from the drop in Tsingtao Brewery's long position.| GameSquare Holdings vs. TAL Education Group | GameSquare Holdings vs. Kid Castle Educational | GameSquare Holdings vs. Laureate Education | GameSquare Holdings vs. Zane Interactive Publishing |
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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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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