Correlation Between Eastman Kodak and Corsair Gaming
Can any of the company-specific risk be diversified away by investing in both Eastman Kodak and Corsair 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 Eastman Kodak and Corsair Gaming into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eastman Kodak Co and Corsair Gaming, you can compare the effects of market volatilities on Eastman Kodak and Corsair 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 Eastman Kodak with a short position of Corsair Gaming. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eastman Kodak and Corsair Gaming.
Diversification Opportunities for Eastman Kodak and Corsair Gaming
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Eastman and Corsair is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Eastman Kodak Co and Corsair Gaming in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corsair Gaming and Eastman Kodak 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 Eastman Kodak Co are associated (or correlated) with Corsair Gaming. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corsair Gaming has no effect on the direction of Eastman Kodak i.e., Eastman Kodak and Corsair Gaming go up and down completely randomly.
Pair Corralation between Eastman Kodak and Corsair Gaming
Given the investment horizon of 90 days Eastman Kodak Co is expected to generate 1.35 times more return on investment than Corsair Gaming. However, Eastman Kodak is 1.35 times more volatile than Corsair Gaming. It trades about 0.15 of its potential returns per unit of risk. Corsair Gaming is currently generating about -0.1 per unit of risk. If you would invest 578.00 in Eastman Kodak Co on September 6, 2025 and sell it today you would earn a total of 300.98 from holding Eastman Kodak Co or generate 52.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eastman Kodak Co vs. Corsair Gaming
Performance |
| Timeline |
| Eastman Kodak |
| Corsair Gaming |
Eastman Kodak and Corsair Gaming Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eastman Kodak and Corsair Gaming
The main advantage of trading using opposite Eastman Kodak and Corsair Gaming positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eastman Kodak position performs unexpectedly, Corsair 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 Corsair Gaming will offset losses from the drop in Corsair Gaming's long position.| Eastman Kodak vs. The Tinley Beverage | Eastman Kodak vs. Piedmont Office Realty | Eastman Kodak vs. Nobility Homes | Eastman Kodak vs. Hooker Furniture |
| Corsair Gaming vs. Sun Art Retail | Corsair Gaming vs. CarsalesCom Ltd ADR | Corsair Gaming vs. InRetail Per Corp | Corsair Gaming vs. Pembina Pipeline |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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