Correlation Between Contagious Gaming and ACNB
Can any of the company-specific risk be diversified away by investing in both Contagious Gaming and ACNB 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 ACNB into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Contagious Gaming and ACNB Corporation, you can compare the effects of market volatilities on Contagious Gaming and ACNB 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 ACNB. Check out your portfolio center. Please also check ongoing floating volatility patterns of Contagious Gaming and ACNB.
Diversification Opportunities for Contagious Gaming and ACNB
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Contagious and ACNB is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Contagious Gaming and ACNB Corp. in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACNB 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 ACNB. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACNB has no effect on the direction of Contagious Gaming i.e., Contagious Gaming and ACNB go up and down completely randomly.
Pair Corralation between Contagious Gaming and ACNB
If you would invest 4,532 in ACNB Corporation on August 29, 2025 and sell it today you would earn a total of 368.00 from holding ACNB Corporation or generate 8.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
Contagious Gaming vs. ACNB Corp.
Performance |
| Timeline |
| Contagious Gaming |
| ACNB |
Contagious Gaming and ACNB Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Contagious Gaming and ACNB
The main advantage of trading using opposite Contagious Gaming and ACNB positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Contagious Gaming position performs unexpectedly, ACNB 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 ACNB will offset losses from the drop in ACNB's long position.| Contagious Gaming vs. Amexdrug | Contagious Gaming vs. ProUroCare Medical | Contagious Gaming vs. Profound Medical Corp | Contagious Gaming vs. Union Medical Healthcare |
| ACNB vs. Contagious Gaming | ACNB vs. American Transportation Holdings | ACNB vs. Marten Transport | ACNB vs. Sinclair Broadcast 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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