Correlation Between Roblox Corp and Global Gaming

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Can any of the company-specific risk be diversified away by investing in both Roblox Corp and Global 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 Roblox Corp and Global Gaming into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Roblox Corp and Global Gaming Technologies, you can compare the effects of market volatilities on Roblox Corp and Global 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 Roblox Corp with a short position of Global Gaming. Check out your portfolio center. Please also check ongoing floating volatility patterns of Roblox Corp and Global Gaming.

Diversification Opportunities for Roblox Corp and Global Gaming

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Roblox and Global is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Roblox Corp and Global Gaming Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Gaming Techno and Roblox Corp 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 Roblox Corp are associated (or correlated) with Global Gaming. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Gaming Techno has no effect on the direction of Roblox Corp i.e., Roblox Corp and Global Gaming go up and down completely randomly.

Pair Corralation between Roblox Corp and Global Gaming

If you would invest  8,995  in Roblox Corp on June 3, 2025 and sell it today you would earn a total of  3,464  from holding Roblox Corp or generate 38.51% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy98.41%
ValuesDaily Returns

Roblox Corp  vs.  Global Gaming Technologies

 Performance 
       Timeline  
Roblox Corp 

Risk-Adjusted Performance

Good

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Roblox Corp are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak essential indicators, Roblox Corp showed solid returns over the last few months and may actually be approaching a breakup point.
Global Gaming Techno 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days Global Gaming Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Global Gaming is not utilizing all of its potentials. The recent stock price disturbance, may contribute to mid-run losses for the stockholders.

Roblox Corp and Global Gaming Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Roblox Corp and Global Gaming

The main advantage of trading using opposite Roblox Corp and Global Gaming positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Roblox Corp position performs unexpectedly, Global 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 Global Gaming will offset losses from the drop in Global Gaming's long position.
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The idea behind Roblox Corp and Global Gaming Technologies pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.

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