Correlation Between PTC and Gamehost
Can any of the company-specific risk be diversified away by investing in both PTC and Gamehost 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 PTC and Gamehost into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PTC Inc and Gamehost, you can compare the effects of market volatilities on PTC and Gamehost 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 PTC with a short position of Gamehost. Check out your portfolio center. Please also check ongoing floating volatility patterns of PTC and Gamehost.
Diversification Opportunities for PTC and Gamehost
Almost no diversification
The 3 months correlation between PTC and Gamehost is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding PTC Inc and Gamehost in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gamehost and PTC 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 PTC Inc are associated (or correlated) with Gamehost. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gamehost has no effect on the direction of PTC i.e., PTC and Gamehost go up and down completely randomly.
Pair Corralation between PTC and Gamehost
Considering the 90-day investment horizon PTC Inc is expected to generate 1.32 times more return on investment than Gamehost. However, PTC is 1.32 times more volatile than Gamehost. It trades about 0.1 of its potential returns per unit of risk. Gamehost is currently generating about 0.13 per unit of risk. If you would invest 16,303 in PTC Inc on May 27, 2025 and sell it today you would earn a total of 5,132 from holding PTC Inc or generate 31.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 93.65% |
| Values | Daily Returns |
PTC Inc vs. Gamehost
Performance |
| Timeline |
| PTC Inc |
| Gamehost |
Risk-Adjusted Performance
Good
Weak | Strong |
PTC and Gamehost Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PTC and Gamehost
The main advantage of trading using opposite PTC and Gamehost positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PTC position performs unexpectedly, Gamehost 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 Gamehost will offset losses from the drop in Gamehost's long position.| PTC vs. Manhattan Associates | PTC vs. Roper Technologies, | PTC vs. Tyler Technologies | PTC vs. Monolithic Power Systems |
| Gamehost vs. Penn National Gaming | Gamehost vs. Pizza Pizza Royalty | Gamehost vs. BTB Real Estate | Gamehost vs. Sienna Senior Living |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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