Correlation Between Postmedia Network and TGS Esports
Can any of the company-specific risk be diversified away by investing in both Postmedia Network and TGS Esports 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 Postmedia Network and TGS Esports into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Postmedia Network Canada and TGS Esports, you can compare the effects of market volatilities on Postmedia Network and TGS Esports 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 Postmedia Network with a short position of TGS Esports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postmedia Network and TGS Esports.
Diversification Opportunities for Postmedia Network and TGS Esports
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Postmedia and TGS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Postmedia Network Canada and TGS Esports in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TGS Esports and Postmedia Network 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 Postmedia Network Canada are associated (or correlated) with TGS Esports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TGS Esports has no effect on the direction of Postmedia Network i.e., Postmedia Network and TGS Esports go up and down completely randomly.
Pair Corralation between Postmedia Network and TGS Esports
If you would invest 5.50 in TGS Esports on July 21, 2025 and sell it today you would earn a total of 0.00 from holding TGS Esports or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postmedia Network Canada vs. TGS Esports
Performance |
| Timeline |
| Postmedia Network Canada |
| TGS Esports |
Postmedia Network and TGS Esports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postmedia Network and TGS Esports
The main advantage of trading using opposite Postmedia Network and TGS Esports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postmedia Network position performs unexpectedly, TGS Esports 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 TGS Esports will offset losses from the drop in TGS Esports' long position.| Postmedia Network vs. Super Micro Computer, | Postmedia Network vs. Computer Modelling Group | Postmedia Network vs. Data Communications Management | Postmedia Network vs. East Side Games |
| TGS Esports vs. Russell Investments Global | TGS Esports vs. 2028 Investment Grade | TGS Esports vs. Canadian General Investments | TGS Esports vs. DGL Investments No1 |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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