Correlation Between Mako Mining and Bragg Gaming
Can any of the company-specific risk be diversified away by investing in both Mako Mining 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 Mako Mining and Bragg Gaming into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mako Mining Corp and Bragg Gaming Group, you can compare the effects of market volatilities on Mako Mining 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 Mako Mining with a short position of Bragg Gaming. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mako Mining and Bragg Gaming.
Diversification Opportunities for Mako Mining and Bragg Gaming
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Mako and Bragg is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Mako Mining Corp 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 Mako Mining 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 Mako Mining Corp 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 Mako Mining i.e., Mako Mining and Bragg Gaming go up and down completely randomly.
Pair Corralation between Mako Mining and Bragg Gaming
Assuming the 90 days horizon Mako Mining Corp is expected to generate 0.76 times more return on investment than Bragg Gaming. However, Mako Mining Corp is 1.31 times less risky than Bragg Gaming. It trades about 0.1 of its potential returns per unit of risk. Bragg Gaming Group is currently generating about -0.06 per unit of risk. If you would invest 659.00 in Mako Mining Corp on September 8, 2025 and sell it today you would earn a total of 119.00 from holding Mako Mining Corp or generate 18.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mako Mining Corp vs. Bragg Gaming Group
Performance |
| Timeline |
| Mako Mining Corp |
| Bragg Gaming Group |
Mako Mining and Bragg Gaming Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mako Mining and Bragg Gaming
The main advantage of trading using opposite Mako Mining and Bragg Gaming positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mako Mining 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.| Mako Mining vs. Osisko Development Corp | Mako Mining vs. Steppe Gold | Mako Mining vs. New Found Gold | Mako Mining vs. Thor Explorations |
| Bragg Gaming vs. NTG Clarity Networks | Bragg Gaming vs. Minehub Technologies | Bragg Gaming vs. Bewhere Holdings | Bragg Gaming vs. Banxa Holdings |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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